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  4. Mining Global Inc. (MNGG) Message Board

The line that I have heard quite often is Ghana fo

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Post# of 12259
Posted On: 01/21/2015 7:16:44 PM
Posted By: eater7
The line that I have heard quite often is Ghana forbids non citizen mining in the country, that is FALSE. Pursuant to 2006 Minerals and Mining Act section 40 (1)(2) a miner may apply for a mining lease to mine minerals in the country. The lease has a maximum time period of 30 years, but also could be lowered based on the negotiation on the parties. Furthermore, the government of Ghana has cracked down on international miners when it comes to galamsey mining. This type of mining happens independent of mining companies by individuals usually mining by hand. Here, not partaking in this type of mining because his corporation was set up in Ghana, and thus illustrates that he is mining not independent of a corportion, but as a corporation, which is allowed within the act. The limitation to small scale minds which are minds that have a limit of 10 hectares, or 24.7 acres applies to non citizens. Non citizens can't conduct small mining operations in Ghana. Joel, has an option up to 50 acres, and is currently developing 25 acres at the moment. That 25 is outside the threshold of the small mining act. Furthermore, section 82 and 83 of the mining act lay out the foundation for requirements for small scale mining. I believe Joel incorporated in Ghana as a means to gaining citizenship. I haven't looked at the corporate formalities over there, but in the US, a corporation is domiciled, or has residence in a place where it is incorporated, or has its principle place of business. Due to the fact that Joel has incorporated in Ghana, it would venture to guess that the corporation would be considered a citizen of the country. Thus, allowing small scale mining operations under sec ion 83. But, as discussed above, the land which is involved in the mining is over the ceiling to be considered a small mining operation.


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