Gov't owes us $20M, we have not defaulted - Ghana Manganese Company

By Mutala Yakubu
COO of Ghana Manganese Company, Benjamin Stay Quashie
COO of Ghana Manganese Company, Benjamin Stay Quashie

The Managers of the Ghana Manganese Company say the Ghana Revenue Authority (GRA) and the government failed to fulfil their obligation of paying back an amount of $20million refund due them between December 2018 to June 2019.

In a statement released the managers of Ghana Manganese Company described as inaccurate and inconsistent, the government's claims that the company failed to fulfil its financial obligations, which have resulted in over $300 million loss of revenue to the state.

Benjamin Stay Quashie, who is the Chief Operations Officer of the company said the closure and mere thought of workers losing their job is causing psychological trauma among the over 1,500 workers, whose fate hung in the balance following the closure.

The Company in January were asked to halt operations to enable the state to undertake a thorough financial audit of its operations. Subsequently, the Ministry agreed with the company that the audit could be carried out while mining operations are ongoing.

After the preliminary audit, it came to light that the state was incurring huge losses through the operation of the company.

The audit also revealed that the company failed to pay additional royalty of $12.8 million. It had also defaulted in additional corporate taxes to the tune of $79 million and a $6.1 million loss of dividends declared, hence government's directive for the closure of the company.

But the company says it has not defaulted and wants the government to come clean.

A meeting is expected between the government of Ghana and managers of GMC at the Jubilee House on Friday, to settle the matter.

Today August 8, 2019, workers were asked to go home until further notice.

Click here to read statement