Gold Fields Ghana Limited had a mining lease and had also promised/proposed to invest additional USD2.5 billion in both the Tarkwa and Damang Mines.
It was envisaged that the new investment would increase gold production at the two mines by 40 percent to one million ounces per year.
According to Goldfields, these and other fiscal concessions would save the Company up to USD33 million a year effective 2016.
Author: Amos Safo, Public Agenda [Ghana] A liquidated mining firm, Bonte Gold Mines Ltd.[part of Akrokeri-Ashanti Gold] together with the Minerals Commission and the Environmental Protection Agency (EPA) have been sued in a landmark case in which two NGOs are demanding the reclamation of...This means that the current fleet can run for several years.Strict maintenance regime as has always been adhered to by Gold Fields Ghana Limited combined with a strategic fleet replacement schedule, the current fleet has the potential to go beyond the current 14-year life.The second justification by the company was in respect of what it called ageing fleet.
Gold Fields claims that its mining equipment is ageing and nearing the operational lifespan.
The proposed retrenchment by Gold Fields is, therefore, a demonstration of bad faith and is in breach of the mining Development Agreement the Company signed with the Government of Ghana in 2016.
We call on Government to ensure that Gold Fields implements its side of the Development Agreement and refrain from adducing additional arguments to justify what is basically an unjustifiable action.
However, TUC says the latest number of workers cited in a letter written by lawyers of Gold Fields Ghana Limited puts the expected number of affected workers at 2,150, out of a total workforce of 2,516 (including Management staff).“We find this extremely unfortunate considering the extent of contradictions and inconsistencies in the company’s justification for the proposed retrenchment,” it said.
TUC the says the proposed retrenchment is a demonstration of bad faith and breaches the mining Development Agreement.
An analysis of this claim shows that, it is far from the truth.