Gov’t must takeover GCDG assets – MP

Government has been urged to take control of the ailing assets of the Great Consolidated Diamond Ghana Limited (GCDG) and assist it secure prospective investors, the Member of Parliament for Akwatia, Mercy Adu-Gyamfi has appealed.

“I think it is time for them to hand over the mine back to government for a more serious investor to come in.

The chiefs and people of the Akwatia constituency are looking forward to the day when another group will take the mine which will in turn bring benefits to improve the quality of their lives” she told Parliament during her first statement on the floor of the house.

According to her back in 2011, the then Vice President [John Mahama] outdoored a wholly-owned Ghanaian company, Great Consolidated Diamond Ghana Limited (GCDGL) which had taken over the operations of the Ghana Consolidated Diamond (GCD) at Akwatia in the Eastern region.

She also added that the new company promised to invest US$100m in a five-year period and was expected to produce one million carats of diamond every year within the period. It also promised to create 2,500 direct jobs and 50,000 indirect jobs for support services.

The GCDGL had intended to establish integrated diamond mining and processing industry with the main objective of turning around the fortunes of the mine.

Ms Adu-Gyamfi also indicated that GCDGL promised to put in place an action plan and turn-around strategy that would lift the company from its then situation into a great mining firm in Africa, that was over six years ago.

She explained that these facts were contained in a publication released for the inauguration.

The inauguration brought great hope to the people of Akwatia and the constituents whose fortunes have, since large-scale mining begun in 1924, been linked with mining in the town.

“But what do we see now? [Mr. Speaker, the new company has, since its beginning, done no mining. Its interest has only been to putting together parts of plant and machinery and selling them as scraps”.

She also accused the company of selling sand and stone piled up all over the place through many years of mining operations by Ghana Consolidated Diamonds and the former British-owned Consolidated African Selection Trust (CAST).

“It is now clear that the new company does not have the intention or capability of doing any mining. Since they have also failed to live up to its financial obligations in taking over the mine”.

 

 

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