News Formal

Ghana mining firms ordered to sell 20% of gold stocks to central bank

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

United States News News

The move is part of measures to operationalise a government plan to use gold to buy oil products announced on Thursday by the president

Picture: SUPPLIED

The move is part of measures to operationalise a government plan to use gold to buy oil-products announced on Thursday by Bawumia. It is meant to tackle dwindling foreign currency reserves. All community mining schemes and licensed small-scale miners will also have to sell their gold to the government through PMMC from the same date onwards. This will be mandated by a clause in their licenses, he said.

However, Bank of Ghana communications officer Sam Opoku told Reuters he could not confirm or deny whether Bawumia’s order was being considered.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ghana mining firms ordered to sell 20% of gold stocks to central bankThe move is part of measures to operationalise a government plan to use gold to buy oil products announced on Thursday by the president
Source: BDliveSA - 🏆 12. / 63 Read more »