https://www.myjoyonline.com/mining-firms-to-pay-ghc9000-as-rent-charges/-------https://www.myjoyonline.com/mining-firms-to-pay-ghc9000-as-rent-charges/
Economy | Mining

Mining firms to pay Ghc9,000 as rent charges

The Lands Commission is pursuing a legislation that would see a hike in land rent for mining companies jump from a paltry 50 pesewas to nine thousand Ghana cedis (Ghc 9,000) for a square kilometer each year, from 50 pesewas, the first review in 26 years. The Commission says it expects Parliament to give priority to the Legislative Instrument once it is passed. Mining firms are required to pay rent on the land allocated to them to the Stool Lands which own the surface rights. Even before the new law comes into effect however, research by the Ghana Extractive Industry Transparency Initiative indicates most mining companies do not even pay the current 50 pesewas. Vice Chairman EITI Dr. Steve Manteaw, attributes this to the cost of collecting the taxes. Dr. Manteaw said their findings on the payment of ground rent between 2004 and 2009 revealed that none of the mining firms honoured its responsibilities, while the Administrator of Stool Lands also did little to collect the rent. Meanwhile the Administrator of Stool Lands, Christie Boboobi has told Joy News on Wednesday, joint consultations by her office and the Lands Commission with other stakeholders have been positive. Madam Boboobi said the companies have expressed their willingness to pay the new rent should it be approved.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.