Tag Archives: GOLD

A man who says he was the informant who helped the Ghana Police Service with intelligence in the arrest of a gold scam syndicate, in March 2022, at Adjen Kotoku, a suburb of Accra, says his life is now in danger. The supposed informant said that despite him providing the …

Total of four new large-scale mining companies are expected to start operations in the country within the next 24 months, the Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor has announced. According to him, the new mines will comprise three gold mining firms and one lithium mining com­pany and would …

The Member of Parliament for Ningo Prampram, Sam Nartey George, has described the God-for-Oil policy the government is implementing as a scam. According to him, the aim of the policy is to reduce the prices of oil products but the prices of these items are set to increase again this …

The Bank of Ghana (BoG) has assured Ghanaians that it has sufficient gold reserves to continue the gold-for-oil policy. In its turn before the Public Accounts Committee, the central bank stated that it was well-positioned to meet the transactional demand of 160,000 ounces of gold per month. The bank was represented before …

Vice President, Dr Mahamudu Bawumia, has announced that government will receive the first consignment of oil under the gold-for-oil policy in January 2023. Making this known in a Facebook post sighted by GhanaWeb, he noted that the first consignment comes after government concluded arrangements for the operationalization of the gold-for-oil policy. “I …

Steve H. Hanke, a professor of Applied Economics, Johns Hopkins University, has described as “bogus” Vice President Dr. Mahamudu Bawumia’s announcement of a new policy of buying oil products with gold rather than U.S. dollars. According to him, Ghana’s vice president is grasping for straws with this new gold-for-oil plan. The …

Business magnate and economist, Dr Kofi Amoah, has said there are serious considerations to make if Ghana is to embark and fully implement its new policy of paying for oil and other essential imports with gold instead of US Dollars. The vice president, Dr Bawumia, recently announced the policy, claiming …

It is reported that a lady who accused former fetish priestess, Nana Agradaa of duping her is suspecting foul play following an acid attack on her daughter. Maame Sarah some few years ago accused Nana Agradaa, real name Patricia Oduro Koranteng, who is now an evangelist, of allegedly defrauding her …

Vice President Dr. Mahamudu Bawumia has said government is negotiating a new policy that seeks to ensure the country purchases imported oil products with gold rather than foreign exchange. In a Facebook post on November 24, 2022, the Vice President said the policy is expected to take effect by the end …

A Luv News investigation has found that some illegal gold miners are totally dependent on oxygen as a result of their exposure to mining dust that has caused irreversible damage to their lungs. Autopsy reports revealed that over 70% of lung tissues sampled from mine workers contain dust and heavy metals. As …