Mining giant Anglogold Ashanti is making a case for a new Stability Agreement with government at its Iduapriem Mine in Tarkwa as the current deal nears expiration by the end of the year.

A Stability Agreement provides mining firms some reliefs in tax and royalty payment to government so it enables them to undertake major development projects in the communities they operate in.

AngloGold is confident of securing a new deal with government.

Senior Manager for Sustainability at AngloGold’s Iduapriem Mine, Emmanuel Baidoo said they are looking forward to it and hope that government also accepts to extend the agreement.

He said this is “because it sets the basic parameters where expectations are very well defined and you wouldn’t want to invest in an environment where there is probably a high level of uncertainty.”

This, he explained, gives confidence to people who want to invest in the economy and for government, it sets out the basic requirement or basic expectation within the period that one expects the people who have signed onto the agreement would deliver.  

Mr Baidoo explained that regarding complaints about the Agreement adding more taxes to potential investors, “it is not the agreement per say but rather the negotiations that go into it.”