The Africa Center for Energy Policy (ACEP) on Tuesday held a forum in Sunyani to sensitize mining communities in the Ahafo Region on the Agyapa Investment deal.
The forum brought together residents from Susuanso, Terchire, Adrobaa, Ntotroso, Kenyasi number One, and Kenyasi Two, mining communities within the Newmont Ahafo mine catchments area as well as some civil society organisations and actors.
It discussed extensively the impact of the investment deal on local government funding.
Mr Charles Gyamfi Ofori, ACEP’s Policy Lead, Climate Change, and Energy Transition noted the Agyapa Investment deal would not benefit Ghanaians, and called on the government to re-think and consider other investment models.
“The deal would serve the national interest in generating a better value that would maintain flexibility to control the industry policy”.
“The contribution of the nation’s natural resources, as a key revenue generation source, is crucial to holistic development, and the government must rethink her decision on the deal and opt for other investments”, Mr Ofori explained.
Highlighting on the Agyapa Investment deal, Mr Ofori explained five per cent of every 100 pounds of gold would be paid to the government as royalties where 80 per cent of the royalties would then be channelled into the investment for periodic returns.
The remaining 20 per cent would be earmarked for development in mining communities, he said.
Reverend Osei Kofi Junior, an Assembly Member at Kenyasi Number Two who expressed varied views on the investment suggested 80 per cent of the royalties should rather be utilized for job creation and poverty reduction.
“The current socio-economic situation in our mining communities is very terrible and the government must use revenue generated from the mining sector to create jobs for the local people”, he said.