The Ghana Chamber of Mines has described some agreements and contracts signed between members and the government as unhealthy and detrimental to the extractive sector.
This, it says, is greatly affecting the operations of the members and derailing growth.
According to Chief Executive Officer Sulemanu Kone, there is a need for a round table discussion with the government and other stakeholders to protect the sector and drive economic growth.
Speaking at the launch of the 2023 Ghana Extractive Industries Transparency Initiative (GHEITI) report, he called for robust policies to support the sector.
“Security of an agreement and its sanctity is key. We have a situation where companies have investments agreement that freezes their fiscal term. These are serious matters. I know we are in a difficult time but this is what we should be having a conversation about”.
“We are just ignoring all these which is affecting the extractive sector and that is making the sector unhealthy”, he added.
The objectives of GHEITI Reports are to create the required public awareness, generate interest and debate on the issues raised in the extractive sector of the economy
The initiative encourages government, extractive companies, International agencies, and NGOs to work together to develop a framework to promote transparency of payments in the extractive industries.