Northern Ashanti Mines: Former chief inspector of mines urges Minerals Commission to negotiate over debt

Former Chief Inspector of Mines, Obiri Yeboah Twumasi, has advised the Minerals Commission to engage in negotiations with Northern Ashanti Mines regarding the company's outstanding statutory fees. Speaking on Joy FM’s Top Story, Twumasi emphasized that a mutually agreed payment plan could enable the company to meet its financial commitments while continuing its development, especially as it has yet to commence gold sales.

He suggested that if the breaches involve statutory payments, both parties should collaborate to establish a payment schedule acceptable to the Minerals Commission. Twumasi highlighted that mining companies in the development phase might lack sufficient liquidity to fulfill their financial duties, making them reliant on suppliers and creditors.

He also stressed that the Minerals Commission must adhere to established procedures when dealing with potential breaches, notifying companies of serious offenses and granting them 120 days to rectify them, with a subsequent 120-day window if needed. Twumasi advocated for dialogue between the two parties, asserting that a protracted dispute would not benefit Ghana.