Franklin Cudjoe, President of IMANI-Africa
A policy think-tank, IMANI Africa, has questioned the sale of Newmont’s Akyem Mine to Chinese investors.
According to the think-tank, the mine’s contribution to the country economy is too huge to be left to foreigners.
They noted that preference should have been given to Ghanaian investors who had equal capabilities to manage the mine, which contributes about 500,000 ounces of gold equivalent for at least 10 years.
When IMANI drew the President’s attention to the sale, it said: “From intelligence gathered, a sale announcement is going to be made in the next few days. Reports are that the successful bidder for the mine is a Chinese entity.
“Newmont as an entity has the right to sell to whoever is the highest bidder with the most favorable terms, and that fact is not in dispute, it is rather, the most rational and prudent decision and their sole right to dispense with their assets however they deem fit and beneficial to their interests,” it said.
As of October 9, 2024, China’s Zijin has bought the Akyem gold mine from Newmont for $1 billion.
IMANI said the president must make sure to fulfil his promise to Ghanaians to safeguard its natural resources.
“The President seems to have forgotten the promise he made to Ghanaians. Among the prime bidders were Ghanaian entities that are also capable of taking over the mine, even with the backing of the Minerals Infrastructure and Investment Fund (MIIF). The focus of this was to ensure that there was at least a Ghanaian majority stake in the Akyem mine, making sure that the resource and its full benefits remain domiciled in Ghana,” IMANI noted.
SSD/MA
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