Vice President Dr. Alhaji Mahamadu Bawumia has warned that the state would no longer entertain any form of dishonesty and excuse from investors in the extractive sector over their obligations to the country.
Dr Bawumia asserted that several mining companies often under-declare their profits and as such deliberately limit their taxable revenues and other financial obligations to government.
To ensure that Ghana is not short changed again in the mining sector, vice president Dr Bawumia revealed that, a new regime, one that has been applied to the oil industry would be replicated in the mining sector to get operators accountable to the state.
According to the vice president, Ghana is going to build an integrated bauxite and Aluminum Industry with the about 900 metric tons of bauxites remaining to enable us refine our bauxites right here in the country since “we will no longer be exporting raw bauxites” he added.
Dr Bawumia said the country having taken precautions and lessons from the past would extend the new regime to the mining of bauxite so that country isn’t short-changed.
Dr. Alhaji Mahamadu Bawumia however remarked that the country cannot do away with foreign investment but warned that “an invitation to treat must not be an invitation to cheat”.
Kojo Ennimil Arthur |Spicefmonline.com |Ghana