Mining Firms to Undergo Operational Audit

Government plans to undertake an operational audit of all mining firms operating in the country.

The move according to government is to ensure that revenue received by the State from the mining industry is accurate.

John Peter Amewu, Ministry of Lands and Natural Resources has announced the plan when speaking to journalists said the audit will be carried out across all mining companies that are going to work in this country.

The move he said will block all revenue leakages in the export of gold and other commodities.

“As governments, we have been short changed for a long time in the history of a country that is involved in mining, what the ministry in collaboration with government seeks to do now is to introduce what we call an operational audit of mining firms and this is going to be across all mining companies that are going to work in this country.

“We will introduce an operational audit that will determine that the royalties, the tax regimes and all the other benefits in terms of what comes to government are actual.

He said “We feel strongly that government’s take in terms of our royalties and our benefits are being paid and not properly reported and so most of these companies, of course as you know, are listed and so if they are listed, we expect them to be very open to us when we commence this operational audit”.

Source: thePublisher