Three companies short listed to take over GCD

Akwatia, Dec. 31, GNA – Three companies, Great Consolidated Diamond Limited, Jowac Company Limited and Balaji Limited, had been short listed to take-over the Ghana Consolidated Diamonds Limited (GCD), at Akwatia.


Addressing workers of the GCD, at Akwatia, during the Christmas holidays, the Deputy Eastern Regional Minister, Mr Baba Jamal said originally, 30 companies showed interest and applied but only 18 put in bids, with the three meeting the criteria and were short listed.


The short listed groups had all presented their bank guarantees and the Divestiture Implementation Committee (DIC) would soon send their choice to cabinet and then to parliament for final approval.


He said one of the companies was prepared to invest US$70,000,000 and the mineral commission was drawing up an investment plan for the company.


Mr Jamal gave the assurance that the divestiture of GCD will not bring an end to the tributary system (legalize small scale sector).


He said the people needed something “to keep body and soul together” but what the government was against was indiscipline, which had characterized mining, especially, the indiscriminate mining without authority.


On the payment of severance awards to GCD workers, who had been declared redundant, the Deputy Minister said all of them will receive 50 per cent of the payment by close of tomorrow.


The difference of the severance award, he assured, would promptly be paid when the company is finally divested.


He said the families of 41 workers, who passed away during the period, “will not be left out since they will have their entitlement paid to their loved ones on the presentation of letters of administration from the court.


Mr Jamal said the government was also paying the indebtedness of GCD to companies, such as Volta River Authority, so that the new company chosen would not have any encumbrances to disturb it.


The Production Manager of GCD Mr Delali Kabi, said when the payment of the severance awards resumed, the exercise had been faster and smoother, following the resolution of the problems that necessitated the suspension of payment before the Christmas holidays.


Leave a Reply