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Gold Fields to hit one million ounces of gold by 2011

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gold-barsVice President John Dramani Mahama on Wednesday commended Gold Fields Ghana for plans to increase its current gold production level from 900 ounces to one million ounces from 2009 to 2011.

He said government was also appreciative about the company’s effort in improving the lives of people in its operational area through the community livelihood programme.

The Vice President gave the commendation when a delegation of the company called on him at the Osu Castle.

He said the venture was in direct response to government’s plan to push   the Western Corridor Development agenda, to accelerate the development of the area.

Mr. Mahama urged the company to, however, be responsive to the needs of the people and operate responsibly.

The Leader of the delegation and Chief Executive Officer of the company, Mr. Nick Holland said the current conducive economic environment pertaining in the country had encouraged Gold Fields to invest more money into lead gold production.

He assured the government of his company’s commitment to meeting environmental standards, as well as the needs of the people and the country.

Mr. Peter Turner, Managing Director of the company in Ghana, emphasized the respect the corporate entity have for the people of the Western Region, saying Gold Fields would not sideline them in terms of social development.

He said the company invested in agri-business, particularly in the areas of fish and poultry farming, piggery and oil palm plantation to meet some of its social obligation to provide job opportunities for the youth.

Currently, Gold Fields Ghana operates in Tarkwa and Daamaa.

Source: GNA

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  1. These companies have no listing in Ghana stock exchange, so how can ordinary Ghanaian benefit, if these companies have their stocks in Johannesburg, Swiss, Brussels, Dubai and New york. How many Ghanaians are in these countries. That is why our leaders should insist that some of these stocks should be advertised in Ghana stock exchange. Don’t let them tell you we can raised capital because Ghanaians don’t have the money but listen they give you 100 dollars for your precious metals which is not renewable to benefit future generations but yet they sell it in Europe for 10 times the purchase price. Who is loosing in this case the very people whose land the minerals is coming out and when is finish they leave you high and dry. Ghana must be smarter than that.