The Chief Executive Officer(CEO) of Minerals Income and Investment Fund (MIIF) has told critics of the Agyapa Royalties deal that the company is owned by the people of Ghana and its operations are backed by the laws of Ghana to maximize profit on the mineral royalties in the country.
He said MIIF as the management body that birthed the Agyapa Royalties deal which is also one hundred percent owned by Ghanaians.
He said Agyapa Royalties deal is a Special Purpose Vehicle to leverage Ghana’s royalties from the mining sector for the development of the mining areas in the country.
'Agyapa Royalties will assist Ghana to maximize value on the royalties paid by the mining companies in the country, he said.
MIIF has the mandate to enter into any international agreements inside and outside Ghana as it operations was rectified by Parliament, he stressed.
The debt capital of doing things over the past years has not helped the development of the country, he adding that Agyapa Royalties deal is pledging the country’s royalties for the development of the country.
He was quick to add that MIIF will continue to pay royalties to the Administrator of the Stool Lands and it is not a situation that royalties will not be paid.
Agyapa Royalties is a credible company with Board Directors appointed by the Ministry of Finance and the Board is made up of people with expertise in the mineral mining sector of the economy, he said.
He revealed that when the company is listed on the London Stock Exchange, all the directors of the company will be made available to the world during the Initial Public Offer(IPO)
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