Akufo-Addo Directs Lands Ministry To Transfer US$5M Out Of US$6M Paid By Maxam To Appiatse Fund


President Akufo-Addo has directed the Minister for Lands and Natural Resources, Samuel A. Jinapor to transfer Five Million United States (US$5,000,000) out of the total of Six Million United States Dollars (US$6,000,000) paid by Maxam Company Limited into the Appiatse Support Fund.


According to a statement signed by the Minister for Lands and Natural Resources, Samuel A. Jinapor, the transfer will help support the victims of the Appiatse incident and reconstruct the community.


The statement said "The directive follows an administrative fine of One Million United States Dollars (US$1,000,000), I imposed on Maxam Ghana Limited for regulatory breaches, following the Appiatse incident which killed thirteen (13) people and destroyed the entire community, and an agreement with the company to pay an additional amount of Five Million United States Dollars (USD5,000,000) to Government"


The statement also added that by law, the One Million Dollars (US$1,000,000) which constitutes the administrative fine, forms part of the Internally Generated Funds (IGF) of the Minerals Commission, the regulator of tye sector.


Below is a copy of the release:

Story by: Joshua Kwabena Smith


0 comments