The NPP government will introduce a new revenue management law to regulate the use of gold revenue just as is done in the oil sector, Minister Nominee for Lands and Natural Resources, John-Peter Amewu has disclosed.
[contextly_sidebar id=”eQEvnMVdJ6d3C4SDsyMUgAglnWSMphm5″]Mr. Amewu argues that the law will among others empower local authorities and residents to track the use of all revenue earned from the exploration of mineral resources in the country.
The Minister Nominee made the remarks when he met the Appointments Committee of Parliament on Tuesday.
“For purposes of mining governance, transparency, equity and fairness to the owners of resources, it is proper the owners should be able to query government what their revenue have been used for,” he stated.
“This will be in the direction where civil society organisations, chiefs and elders and opinion leaders will be able to determine where the money is going, what quantity is being used and for what purpose is the money being used for,” Mr. Amewu added.
The new revenue management law comes despite an existing petroleum revenue management law.
Responding to whether or not the new consolidated revenue management law will contradict the existing legislation in the oil and gas sector, Mr. Awuah explained,
“Within the oil sector we have the revenue management law and it is working perfectly because it ties the hands of the public officials to decide on the use and applications of these monies,”
He added, “This new law is going to look at a different sector (mining). What we have currently is for the oil and gas. We are talking of having a different consolidated law similar to what we have in the oil and gas sector; so they are going to work concurrently.”
Meanwhile Mr. Amewu has stressed the need for Ghana to revisit its position on stability agreements in the mining laws.
In his view, the country’s democratic credentials puts it above risks that merit stability clauses in mineral licensing regimes.
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By: Pius Amihere Eduku/citibusinessnews.com/Ghana