• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home Business Business News 201908

Gov’t Shuts Down Ghana Manganese Company

05-Aug-2019
/ Business News, Business
Email
Print
Comments 1
(1)
Comments
Share on Facebook Share on Twitter
 

Government has ordered the shutdown of operations of the Ghana Manganese Company Limited.

This is due to alleged nonpayment of taxes and price manipulation between the periods of 2010 to 2017.

The company has been under investigation since February 2019 after preliminary checks of its finances revealed several infractions.

 
Making this known at a press conference on Monday, the Minister of Lands and Natural Resources, Kwaku Asomah Cheremeh revealed that plans have been put in place to retrieve the monies.

“GMCL has not shown strong commitment to value addition in particular. There are also defaults by the company in the payment of annual minerals rights fees in excess of 4 million dollars. These and several infractions give me no option as the sector Minister than to close down the operations of GMCL.”

“The company is therefore instructed to stop all mining exploration and export of minerals effective 6th August 2019. The Ministry together with the Minerals Commission and other relevant stakeholders will immediately commence discussions with Ghana Manganese to resolve this and other outstanding issues in the course of the shutdown.”
The Minister had earlier directed the management of the company to halt its mining operations due to inconclusive data on the company’s operation and revenue.


The directive, according to a letter signed by the minister and dated January 31 was to enable the state undertake a thorough and uninterrupted technical and financial audit of the mining entity.

According to the letter, preliminary assessments of the company raised some concerns; thus the need for a detailed audit to ascertain the facts.


“A preliminary assessment of your report document and information available to the government on operations has left us with no option than to ask you to immediately cease operations in your mining area.”

“The cessation of your operations will among other things, ensure that the technical and financial audit are undertaken without any challenges. You are, therefore, requested to stop mining operations by February 1, 2019,” the letter stated.

Source: citinewsroom.com

 

 
 

 

Comments ( 1 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

“New Companies Act Will Improve Ease Of Doing Business” – President Akufo-Addo

Next Post

Sahara Group Lauds Investment Opportunities In Angola’s Downstream Sector

 
 

More Stories

Otumfuo Pledges Support For Job-Creating Initiatives As Star Beer Relaunches Production In Kumasi
Boost For Cross-Border Trade
Next400 Launches Groundbreaking NFT Project 'Legacy Warriors' On Sutudu Platform
Stop Takeover Of Indigenous Private Banks - Mahama Ayariga Writes To BoG
Office of the Registrar of Companies To Delete 513,338 Lapsed Businesses Names From Register
Leading Shopping Outlets Short-Changing State; As GRA Uncovers Duplication Of E-VAT Serial Numbers
Zeepay Expands Into Zambia
2023 Responsible Business And Leadership Excellence Summit And Awards Launched
Use African Challenges To Develop Opportunities -AfCFTA Secretary General To Business Gurus
Next Post

Sahara Group Lauds Investment Opportunities In Angola’s Downstream Sector

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Business News Stories

  • Otumfuo Pledges Support For Job-Creating Initiatives As Star Beer Relaunches Production In Kumasi

  • Boost For Cross-Border Trade

  • Next400 Launches Groundbreaking NFT Project 'Legacy Warriors' On Sutudu Platform

  • Stop Takeover Of Indigenous Private Banks - Mahama Ayariga Writes To BoG

  • Office of the Registrar of Companies To Delete 513,338 Lapsed Businesses Names From Register

  • Leading Shopping Outlets Short-Changing State; As GRA Uncovers Duplication Of E-VAT Serial Numbers

  • Zeepay Expands Into Zambia

  • 2023 Responsible Business And Leadership Excellence Summit And Awards Launched

  • Use African Challenges To Develop Opportunities -AfCFTA Secretary General To Business Gurus

  • South Africa Calls On MTN, Ghana To Resolve $773 Mln Tax Dispute

 

 
 

Popular Videos

Kokrokoo Live On Peace 104.3 FM (30/01/2023)

Akan News @ 6am On Peace 104.3 FM (29/01/2023)

Peace Power Sports (31/01/2023)

Kokrokoo Live On Peace 104.3 FM (31/01/2023)

Kokrokoo Discussion Segment On Peace 104.3 FM (31/01/2023)

Peace Power Sports (30/01/2023)

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media