Business News of Sunday, 28 April 2024

Source: GNA

Minerals Development Fund inaugurates Ada Local Management Committee

File photo: A salt mining company in Ada File photo: A salt mining company in Ada

The Minerals Development Fund (MDF) has inaugurated its 22nd Local Management Committee at Ada under the provisions of the Fund’s Act, 2016 (Act 912).

The fund provides financial resources for the mining communities and related matters, and the Ada Local Management Committee is the first to be inaugurated in a salt mining area. 

The committee is chaired by Justice Nene Abayateye Ofoe Amegacher, with other members made up of traditional rulers of the area including Asafoatsengua Buertey Okumko Obuampong IV, Nene Tetteh Lanuer Okumo IV, Nene Amanortey Nangwa Apenkro IV, and Naana Adiki Manyeyo Adi I.

The rest are Mr Ebenezer Mettle Nunoo, Mr Charles Dugbartey Nanor, Mr Sampson Tetteh Kpankpah, Madam Sarah Dugbarkie Pobee, and Mr Samuel Kabutey.

The local management committees of the fund allocate resources directly benefiting mining communities, holders of interest in land within these communities, traditional and local government authorities, and institutions responsible for mining development. 

Mr Kwaku Sakyi Addo, the Chairman of the Minerals Development Fund Board, who swore them into office, urged members to foster collaborations with all the relevant stakeholders to help drive sustainable development in the area through its initiative.

He also commended Electrochem Ghana Limited, a commercial salt mining company, for its commitment to development by paying ground rent and royalties to the Ada state.

He said some bigger companies struggle to pay the necessary royalties after five or more years of operation.

Mr Sakyi Addo, together with Dr Noriss Hamma, the Administrator of the Mineral Development Fund, presented a cheque for GHS250,000 to the committee as seed money.