26.2 C
Accra
Monday, October 3, 2022

President Akufo-Addo cuts sod for Aboso Tailings Project

Must Read

Electricity vending: ECG begins investigations, MD to address Journalists

By: Rebecca Ekpe In a bid to resolve the barrage of concerns of customers over power vending, the Managing Director...

“Fight against galamsey can only be won collectively” – Lands Minister

By: Razak Baba The Minister for Lands and Natural Resources, Mr. Samuel Abu Jinapor says the fight against Galamsey cannot...

Bawku Conflict: National Media Commission worried about “weaponization” of media

SOURCE: GNA The National Media Commission (NMC) has expressed concerns over the “increasing weaponization of the media in the Bawku...

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

Electricity vending: ECG begins investigations, MD to address Journalists

By: Rebecca Ekpe In a bid to resolve the barrage of concerns of customers over power vending, the Managing Director...

“Fight against galamsey can only be won collectively” – Lands Minister

By: Razak Baba The Minister for Lands and Natural Resources, Mr. Samuel Abu Jinapor says the fight against Galamsey cannot be won if traditional authorities...

Bawku Conflict: National Media Commission worried about “weaponization” of media

SOURCE: GNA The National Media Commission (NMC) has expressed concerns over the “increasing weaponization of the media in the Bawku conflict'' It noted an escalation in...

Otumfuo calls for urgent steps to tackle alarming rate of deforestation

SOURCE: GNA Otumfuo Osei Tutu II, the Asantehene, has called for urgent steps to curb the alarming rate of deforestation to save the country’s forest...

Tragic: 174 people killed in Indonesian stadium stampede and riot

SOURCE: GNA - At least 174 people are reported to have died after clashes at the Kanjuruhan Stadium located in East Java, Indonesia on Saturday. This...

More Articles Like This