University of Oxford is partnering Akonta Mining Limited to discuss how local participation can sustain and develop Ghana’s gold mines.
Akonta Mining Limited would be represented by its owner, Mr. Bernard Antwi-Boasiako popularly known as Chairman Wontumi at the event.
Chairman Wontumi is expected to address how the role of local miners could help Ghana develop a sustainable plan towards gold mining.
The event is scheduled to take place at the Best Western Atlantic Hotel at Takoradi on the 6th to 7th December, 2022.
During the Mining Week and Ghana Gold Expo in April 2022, the CEO of Minerals Income Investment Fund, Nana Yaw Koranteng in his presentation mentioned that the purpose of MIIF as a state-owned investment fund is to invest responsibly and transparently to generate prosperity for all Ghanaians – current citizens and future generations; with greater emphasis on “future generations”
He stated that the main source of income for the fund is through minerals royalties that are due the Republic of Ghana from mining operations – from gold and non-gold minerals such as manganese, salt, limestone, and quarrying activities. Other sources of income include the interest earned through investment portfolios and grants.
On the how MIIF invest and manage the money that they receive, Mr. Koranteng stated that all the income gained from the royalties is invested on behalf of the Republic in two main ways:
The first is assets under management which simply means the totality of the investments in mining and other companies, and with this, the organization intends to achieve $500 million AUM by 2025. At the moment it has a war chest of about US$ 200Million.
