Former Deputy Power Minister, John Jinapor, has urged the government to take concerns the Minority has raised over the Agyapa Minerals royalties in good faith.
Parliament last Friday approved five agreements to allow the country to derive maximum value from its mineral resources and monetise its mineral income accruing to the country in a sustainable and responsible manner, in line with the Minerals Income Investment Fund Act, 2018 (Act 978).
According to the Yapei- Kusawgu legislator, the terms of the agreement is not in favour of the country and there is the need for the government to rethink through it.
He made these arguments on Asempa FM’s Ekosii Sen show, Tuesday.
“All the 16 companies who have been targeted as the barter for the agreement are the country’s big boys in mining.
“If you look at their cash flow, they constitute about 80% of the total mining revenue which makes the royalties a big deal. The rest are insignificant and negligible,” he said.
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Meanwhile, some 15 Civil Society Organisations (CSOs), under the umbrella name Alliance of CSOs working on Extractive, Anti-Corruption and Good Governance, are demanding the immediate suspension of the implementation of the controversial Special Purpose Vehicle, Agyapa Royalties Limited.
The CSOs say until there is full disclosure on the beneficial ownership of the Special Purpose Vehicle, Agyapa Minerals Royalties, the implementation of the deal should be deferred.