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Jun 30, 2011

Mining sector increases revenue

Dr. Joyce R. Aryee, Chief Executive Officer of the Ghana Chamber of Mines, says the mining sub-sector generated and paid GH¢520.00 million in revenue to the Ghana Revenue Authority (GRA) in 2010, representing 21% of GRA’s collections in that year.

She adds that the sub-sector also paid the highest corporate tax of GH¢242 million to the GRA, also representing 24% of the total company tax collected for the same year.

Dr. Aryee disclosed this known in Koforidua when she interacted with the Eastern Regional Press Corps to educate the media on the functions of the chamber, the benefits of mining, as well as the challenges, especially posed by illegal miners.

She pointed out that figures from the Ghana Statistical Service and the Ministry of Finance, indicate that the sub-sector grew at a remarkable rate of 11.2%er cent last year, against 6.8% in 2009, adding that revenue from mineral during the period accounted for 49% of the country’s gross export earnings.

Dr. Aryee also noted that the significant growth in the mining sub-sector gave employment to 12,294, out of whom 98% are Ghanaians.

Source: ISD