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NDC’s gold royalty holding company

While alleging that Agyapa Mineral Royalties Limited as a plan by the governing New Patriotic Party (NPP) to loot from the state, documents sighted by The Finder reveal that the National Democratic Congress (NDC) government in October 2011 attempted to set up a similar company.The opposition NDC is kicking against the Agyapa Minerals Royalty deal, claiming the country’s mineral resources are being mortgaged through the arrangement.

The 2011 Budget Statement presented to parliament on November 18, 2010 captured the need for the establishment of what was described as a National Vehicle.

Ghana Gold Company

In a memorandum to both the Parliamentary Select Committee on Finance and the Parliamentary Select Committee on Energy and Mines, the NDC planned to set up Ghana Gold Company, responsible for all equity being held on behalf of the state.

Ghana Royalty Holding Company

In addition, the government proposed a separate company called Ghana Royalty Holding Company, which will purely be responsible for royalties trade to raise capital from private markets.

Ghana’s carried interests in producing and future gold mines The proposed Ghana Gold Company seeks to maximise the value of Ghana’s carried interests in producing and future gold mines in the country, as well as existing royalties coming of those mines.

Capital to be raised from private markets

The company is to deliver significant capital sum raised from private markets to the government.

Copied from: Ghana web

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