The CEO of the Ghana Chamber of Mines, Sulemanu Koney, has highlighted the frustrations faced by district and municipal assemblies due to irregular and unpredictable royalty payments from the mining industry.
During an interview on Joy News’ PM Express Business Edition on September 19, 2024, he explained that the inconsistency in royalty payments severely hampers the ability of local planners to develop long-term strategies for their communities.
“Go ask the planners at the various district and municipal assemblies about the planning challenges they face. The money doesn’t come regularly, and even when it does, what is it used for?” he said.
He pointed out that most of the royalties end up being used for recurrent expenditures, such as waste management, rather than critical development projects.
“The uncertainty around when the money will come and how much will arrive makes it difficult for planners to design and execute meaningful development plans,” Mr Koney added.
This unpredictability, coupled with the inadequate size of the funds, leaves local assemblies struggling to create sustainable development initiatives.
Read also: Chamber of Mines boss calls for exploration and development planning before mining begins
Mr Koney urged the government to address these issues, stating, “Government receives quite a chunk of the mining revenue, and they need to come to the party. We can’t leave everything on the shoulders of the mining companies.”
Latest Stories
-
Musk says Farage ‘doesn’t have what it takes’ to be Reform UK leader
48 minutes -
Chinese nationals arrested with gold bars and $800,000 cash in DR Congo
57 minutes -
GPL 2024/25: Sulemana scores as Vision FC beat Nsoatreman
3 hours -
Sewua Hospital is incomplete, commissioning by President Akufo-Addo is ‘illegal’ and ‘breaches contract’ – Eurojet
3 hours -
CDD-Ghana’s Prof Kwasi Prempeh raises issues with Mahama’s approach to endorsing Babgin
4 hours -
GPL 2024/25: Dreams FC beat 10-man Accra Lions 1-0
4 hours -
I’m humbled by Mahama’s confidence in me to lead the 9th parliament – Speaker Bagbin
4 hours -
GPL 2024/25: Young Apostles end four-game winless run with win over Karela
5 hours -
GPL 2024/2025: Medeama, Kotoko draw in Tarkwa
5 hours -
Ghanaian Government urged to strengthen agric sector by delivering on promises to farmers
5 hours -
Revamping Ghana’s Economy: Klutse Kudomor advocates for fishing and agribusiness reforms
5 hours -
Re-collation: EC declares results in 3 disputed constituencies, suspends one
5 hours -
Amerado shines at 2nd edition of ‘My Motherland’ Concert in Ejisu
5 hours -
JOY FM’s 90s Jam draws mammoth crowd with unmatched entertainment
5 hours -
Daily Insights for CEOs: The power of strategic networking for CEOs
6 hours