FG ANNOUNCES TEMPORARY CLOSURE OF OWERRI AIRPORT FOR RUNWAY REHABILITATION. (PHOTO).

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 FG ANNOUNCES TEMPORARY CLOSURE OF OWERRI AIRPORT FOR RUNWAY REHABILITATION  The  Minister of Aviation and Aerospace Development, Festus Keyamo, has announced the temporary closure of the Sam Mbakwe International Cargo Airport, Owerri, to allow for major runway rehabilitation works. A statement by the  Minister says the closure has become necessary to improve safety and operational efficiency at the airport, ahead of the Christmas travel season. It adds that the rehabilitation project is a joint partnership between the Federal Government and the Imo State Government, and will involve repairs to deteriorated sections of the runway, treatment of surface cracks, filling of potholes, resurfacing, and extension works to accommodate larger aircraft. The Minister disclosed that he had earlier spoken with the Governor of Imo State, Senator Hope Uzodimma, who, along with other critical stakeholders in the South-East, agreed on the need for the temporary closure. The airport i...
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GHANA REWRITES MINING LAWS TO SECURE LARGER SHARE OF GOLD REVENUES. (PHOTO).

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 Ghana rewrites mining laws to secure larger share of gold revenues


Ghana is preparing to overhaul its mining laws to secure a bigger share of revenues from soaring gold prices, with authorities saying the current framework no longer reflects market realities or national interests.


“What we have since 2014 is a policy that has not been reviewed,” Isaac Andrews Tandoh, acting chief executive officer of the Minerals Commission, told AFP. “We had to do something to bridge this gap.”


The planned reforms would revise a mining code that regulators say offers foreign mining companies favourable tax and royalty terms, leaving the state with a limited stake in a sector that remains central to Ghana’s economy.


The west African nation says it is seeking tighter control over its natural resources as global demand for gold and other critical minerals continues to rise, following similar moves by countries including the Democratic Republic of Congo, Mali and Tanzania.


Climbing gold prices


Gold prices have surged sharply, jumping more than 65 percent in 2025 and climbing to record highs of $5,500.


Ghana, the world’s sixth-largest gold producer, relies heavily on foreign firms for production, including US-based Newmont, South Africa’s Gold Fields and AngloGold Ashanti, and Australia’s Perseus Mining.


Under proposed reforms expected to be presented to parliament by March, mining royalties would increase from the current three to five percent range to between nine and 12 percent, depending on global gold prices, Tandoh said.


Ghana’s mining agreements typically lock in fiscal terms for between five and 15 years in exchange for large-scale investments that can exceed $500 million to develop or expand mines.

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