26.2 C
Accra
Saturday, October 16, 2021
No menu items!

President Akufo-Addo cuts sod for Aboso Tailings Project

Must Read

Let’s deal with Ghana’s biggest problem of heterosexual rape- Panji Anoff

By Seli Baisie Ghanaian Renowned Music Producer and CEO of Pidgen Music has declared that Ghana’s biggest problem is heterosexual...

Medical Superintendents in Upper West Region hold Covid-19 deliberations

Story by Emmanuel Mensah-Abludo. The Upper West Regional Coordinating Director, Peter Maala has stated that the COVID-19 pandemic was a...

Resolve possible border disputes- President Akufo-Addo to Boundary Commission Board

By Bright Ntramah President Akufo-Addo has tasked the Ghana Boundary Commission to urgently resolve all issues regarding the country’s borders...

President Akufo-Addo has cut the sod for the construction of the Aboso Tailings Project, a 1-District-1-Factory initiative, which is being established to treat and process tailings waste to produce gold doré.

Yellowtail Ltd, the enterprise promoting this initiative, will construct a state-of-the-art gold processing facility, within six (6) months, with a total capital outlay of some twelve million dollars ($12 million), to ensure steady production of gold doré.

“The benefits of this project are both environmental and economic. The project will introduce technology and safe working practices to small to medium scale underground sites, and rehabilitate contaminated sites for agricultural purposes and developments”, the President added.

On an annual basis, for five (5) years, the Project will contribute approximately US$1.35 million as royalties, and fifty-four thousand dollars (US$54,000) as small-scale mining sustainable levy to Government. Cumulatively, a total amount, in excess of eight million, seven hundred thousand dollars (US$8.7 million), will be contributed as corporate tax (CIT) over the five (5) year period.

“I am counting on you, Nananom, to contribute to the success of these projects for the development and transformation of Aboso. Government’s determination to bring progress and prosperity to every part of our country is very much on course,” President Akufo-Addo added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Let’s deal with Ghana’s biggest problem of heterosexual rape- Panji Anoff

By Seli Baisie Ghanaian Renowned Music Producer and CEO of Pidgen Music has declared that Ghana’s biggest problem is heterosexual...

Medical Superintendents in Upper West Region hold Covid-19 deliberations

Story by Emmanuel Mensah-Abludo. The Upper West Regional Coordinating Director, Peter Maala has stated that the COVID-19 pandemic was a litmus test on our preparedness...

Resolve possible border disputes- President Akufo-Addo to Boundary Commission Board

By Bright Ntramah President Akufo-Addo has tasked the Ghana Boundary Commission to urgently resolve all issues regarding the country’s borders to prevent future disputes. He...

Information lives on the internet forever – Cybersecurity Expert

By Charles Sarpong Amponsah. A Cybersecurity Expert, David Gyedu, has cautioned Ghanaians to be careful of cyber threats in order to protect their data and...

Save the environment!

By Emmanuel Akayeti A Bushfire Management Stakeholder Forum has been organized for players in the Agriculture Industry in Bolgatanga, Capital of the Upper East Region. It...

More Articles Like This