The Ministry of Lands and Natural Resources on the recommendations of the Minerals Commission has placed a three-month (90-day) moratorium on processing of new applications for Reconnaissance and Prospecting gold licenses with effect from Friday May 30, 2014.
The purpose of the moratorium is to enable the Ministry in conjunction with the Minerals Commission carry out among others, clean-up of the mineral concession cadastre and eliminate speculators who have held licenses for long periods without complying with terms and conditions of the licenses.
The moratorium applies only to applications for Reconnaissance and Prospecting gold licenses and does not apply to Small Scale gold mining license as well as other minerals.
Reconnaissance and Prospecting gold license applications already submitted to the Minerals Commission will continue to be processed accordingly. Also, the Commission will continue to receive new applications for other minerals. The moratorium will expire on September 30, 2014.
Investors in the sector are being urged to support this effort of the Ministry and the Minerals Commission to ensure compliance with the Minerals and Mining Law 2006, Act 703 and Minerals and Mining Licensing Regulations 2012, (LI 2176).
Signed: Hon. Alhaji Inussah Fuseini
Minister of Lands and Natural Resources
Source:?Isaac Abraham
