gold Archives - Wontumi Online

26 Nov

PMMC, A State Agency That Puts Ghana’s Gold On Top Of Africa And The World

Wontumi10 CommentsBusinessgold, PMMC

Established in 1963, PMMC was mandated to purchase and market Ghana’s gold and diamond resources. In 1965, the Parliament of Ghana formally endorsed PMMC as a state-owned enterprise. The company now operates as the government’s national assayer with the sole mandate of assaying all gold that leaves the country. The company is also the sole implementing agency for the Kimberley Process Certification Scheme (KPCS), the global regime for the trade in diamonds. Jewelry production is also a core function of the company, operating under the subsidiary name PMMC Jewelry Ltd (PJL). The company is located in the Diamond House building…

21 Oct

Ghana Card is Gold – Let’s Be Proud of Its Benefits, Offinso North PC-NPP

Evans ManassehNewsGhana Card, gold, NPP, Offinso North PC

The Parliamentary Candidate for Offinso North Constituency on the ticket of the New Patriotic Party (NPP), Dr Fred Kyei Asamoah, has hailed the Ghana Card as a national treasure, likening it to the country’s historic Gold. Speaking on the State of Ghana Show on Wontumi TV/Radio in Kumasi, Dr. Fred Kyei emphasized the Ghana Card’s transformative impact on Ghana’s development. “Just as Gold has been the backbone of our economy for decades, the Ghana Card is our modern-day goldmine” He highlighted the Ghana Card’s role in enhancing national security, Streamlining public services, Facilitating digital payments, Promoting financial inclusion and boosting the digital space…

10 Jun

“We Can’t Go Hungry While Our Lands Hold Gold” – Obiri Boahen on Illegal Mining

Evans ManassehNewsGhana, gold, Nana Obiri Boahen

Nana Obiri Boahen, a private legal practitioner, has expressed support for Dr. Mahamudu Bawumia's stance on mining, should he become President. Speaking on a Kumasi-based radio station, Lawyer Obiri Boahen emphasized that halting illegal mining is impractical given the country's rich gold resources. He argued that it is crucial to utilize these resources to prevent hunger and advocated for regulated mining practices that include land reclamation. Lawyer Nana Obiri Boahen also praised the NPP government's initiative to establish Mineral Commission offices nationwide, which he believes will ease the process of acquiring mining permits. In a related development, Dr. Mahamudu Bawumia…

06 Jun

Gold Exports In 2023 Surged To $7.60Bn, But Crude Oil And Cocoa Exports Tumble – BoG

Wontumi1BusinessBoG, cocoa, crude oil, gold, Timber

Gold exports in 2023 amounted to $7.60 billion, representing a year-on-year increase of 15.0%. This is mainly due to a 9.2% increase in the volume of exports and a 5.4% increase in the average realised price. According to the 2024 Bank of Ghana Annual Report, the rise in the volume of exports was due to improved gold production attributed to the expansion of the Newmont Ahafo Mine, resumption of operations at Anglogold Ashanti Obuasi Mine, and increased volumes from small-scale miners. The average realised price of gold in 2023 was $1,843.13 per fine ounce. Crude oil exports dropped 39.3% in…

24 Aug

Reserve 5% Of Gold For Us – Jewellery Makers

Wontumi2Businessgold

The President of the Ghana Association of Jewellers, Jonathan Ababio, has called on stakeholders to reserve five percent of gold for the local market in order to reduce the cost of producing gold products. Addressing participants at the launch of the Gold Statement 2023 in Accra, Mr. Ababio explained how the difficulty in accessing gold by local manufacturers affects their cost of production and contributes to high prices of gold products in the country as compared to other markets. “Due to the difficulty in securing materials, our cost has increased phenomenally when we compare ourselves to our competitors in the…

12 Jun

Gold Output Up 32% As Country Returns To Top Spot

Wontumi2Businessgold

Domestic gold production went up 32 percent from 2.8 million ounces in 2021 to 3.7 million ounces in 2022, propelling the country to the summit as Africa’s largest producer of precious yellow metal. The increase, the Ghana Chamber of Mines (GCM) explains, is attributed to a combination of fresh output and expansion of production at existing large-scale mines. Production from the large-scale sector rose from 2.7 million ounces in 2021 to 3.1 million ounces in 2022, representing an increment of 13 percent – the highest in history, with the small-scale sector accounting for the remainder. “The Chamber’s producing member companies…

07 Dec

Each Ghanaian Should Own A Kilo Of Gold: CEO of Akonta Mines Talks About Hope For Economy

Kakra NunuBusinessChairman Wontumi, gold

CEO of Akonta Mining Limited, Mr. Bernard Antwi-Boasiako, is suggesting that there is hope for the Ghanaian economy, if government would strive to ensure that 10 million people out of our current population, is made to own a kilo of gold. He dubbed the operation ‘Hope of Gold; hope of Ghana Economy’. Mr. Antwi-Boasiako popularly known as Chairman Wontumi revealed that the value of a kilo of gold on the world market is around GHC678,000 and added that if 10 million Ghanaians owned a kilo each, it would boost the economy. Chairman Wontumi continued that if the plan is extended…

29 Nov

Gold For Oil: Gov’t Must Give More Support To Akonta Mining Than Foreign Mining Companies- Financial Expert

Kakra NunuBusiness, NewsAkonta Mining Limited, gold, oil

A Finance and management expert is calling on the government of Ghana to support the operations of Akonta Mining Limited if it aims to solidify its initiative to purchase oil products with gold rather the US dollars. Mr. Ishaq Kyei-Brobbey stated on Wontumi TV on Tuesday that government must emulate the culture of other countries where they set an agenda to support their own business folks over foreign nationals or companies. He therefore called for massive support for Akonta Mining Limited- a wholly Ghanaian owned mining company that is into large scale mining and owned by Mr. Bernard Antwi-Boasiako popularly…

30 Mar

Martin Amindu Is “Mad”…His Motive Was To Help NDC Steal Ghana’s Gold- Abronye (VIDEO)

Kakra NunuFeatured, NewsAgyapa Royalty, Data Bank, Ghana, gold, John Mahama, Ken Ofori-Atta, MARTIN AMIDU, NDC, NPP, President Akufo-Addo, Speacial Prosecutor

Former Special Prosecutor Martin Amidu, had an agenda to help the National Democratic Congress (NDC) steal Ghana’s gold and this informed his decision to kick against the Agyapa royalty which was proposed by the New Patriotic Party (NPP) in 2020, the Bono regional Chairman for the NPP has revealed. Mr. Kwame Baffoe in an interview on Wontumi TV’s Nsempa Fie show stated that the Agyapa royalty deal is meant to protect Ghana’s gold reserve and ensure that the nation profits from the natural resource. But with a mindset of aiding the NDC steal Ghana’s gold, Kwame Baffoe stated that Martin…

04 Sep

I Educated John Mahama & His Brothers On Mining At Tamale- Chairman Wontumi

Kakra NunuBusiness, NewsAgyapa Mineral Royalty Limited, Alfred Mahama, Bernard Antwi-Boasiako, Ghana, gold, John Mahama, Tamale

During the tenure of former President John Mahama, he arranged for a meeting with Mr. Bernard Antwi-Boasiako, to have mining lessons. The lessons were to teach the former President how Ghana could maximize its gold profit by entering the stock market. The NPP Chairman made this shocking revelation on the Wontumi Morning Show when he explained the profit the Agyapa Mineral Royalty Limited arrangement would bring to Ghana. During his meeting with Mr. John Mahama and his brothers at Tamale, the NPP Chairman popularly known as Chairman Wontumi revealed that he explained to the former President to consider maximizing Ghana’s…