Last Updated on April 17, 2023 by Admin
The Municipal Chief Executive for Obuasi Honourable Elijah Adansi-Bonah has added his voice to calls for the current 20% share of annual mineral royalties allocated to the Minerals Development Fund to be increased to at least 30-40%.
Describing the current allocation by the Minerals Income and Investment Fund as inadequate, the MCE proposed that an increase in the allocation to the MDF should have a correspondent increase in the portion allocated to the mining communities from the MDF.
Hon. Adansi-Bonah made these assertions on Thursday,13th April, 2023 when he led the Board Chairman of the Minerals Development Fund Kwaku Sakyi Addo and staff of the MDF to inspect an ongoing health center in Obuasi.
Established by an act of Parliament, Act 978 in 2018, the law specifies that MIIF allocates 20% of royalties collected across all mineral types goes to the Minerals Development Fund (MDF) which is responsible for deploying directly to traditional authorities and local government for the provision of developmental amenities, 2% goes into the operations of MIIF, 2.4% to GRA as a collecting agent and 75.6% goes into investment activities.
The Minerals Development Fund Act, 2016, (ACT 912) also stipulates that only twenty percent (20%) of moneys received by the MDF from mineral royalty payments by the MIIF shall be allocated to the Mining communities.
The MCE believed that though the MDF is contributing significantly to enhancing developmental projects in the mining communities, an increase in the percentage will serve the people better and enable to see the benefit of mining in their communities.
MDF PROJECTS IN THE MUNICIPALITY
Honourable Elijah Adansi-Bonah threw more light on projects funded through the Minerals Development Fund in the Obuasi Municipality.
He said currently work on a 2-storey Health center at the Central Business District is nearing completion.
He revealed that the outstanding works to be done included access road and equipment to be used at the facility.
Funded from stool lands revenue, the Obuasi MCE said the project which cost over GH1million is expected to be commissioned around July, 2023.
He also mentioned the 6- unit classroom block at Kokoteasua which has been completed and in use.