Mining companies have been advised to devise effective measures to reduce their cost of operation. This, the sector minister says is necessary in the wake of utility tariff hikes. It follows complains that the increases have a telling effect on cost of mining. Mines and Forestry Minister Alhaji Collins Dauda gave the advice when Goldfields Ghana Ltd presented its annual dividends to government. The minister expressed government’s appreciation to Goldfields for its contribution to the national economy and urged them to do more. “We appreciate the efforts you put in the economic development of this country particularly in the area of generating revenue and also creating jobs for our people,” he said. He also lauded the company for its social interventions in its area of operation. He however advised the company to devise strategies that will cut down the cost of production. The Executive Vice President for West Africa operations of Goldfields Peter Turner expressed concern about the tariff increases which he said could increase the cost of production. We are hearing about increase in power tariffs coming and so these are issues that impact on production cost and we have got to respond to some cost. The company, he said hopes to negotiate with the Energy Commission to come out with a reasonable tariff that will suit everybody. Source: Joy News/Myjoyonline.com/Ghana