Appiatse Explosion: Maxam fined $6 million, to pay $1 million before permit is restored

Maxam Ghana Limited, the company behind the Appiatse explosion has been fined $6 million after the probe into the incident was completed.

The company has been asked to pay the fine of $1 million before the restoration of their permit which was revoked.

The remaining $5 million shall be paid in 18 months beginning from March 1, 2022, to August 1, 2023.

”On Tuesday, February 1, 2022, the three-member Committee submitted its report. Upon a review of the two reports, the Ministry has established regulatory breaches on the part of Maxam Ghana Limited (hereinafter referred to as “Maxam”), in respect of the manufacture, storage and transportation of explosives for mining and other civil works. These breaches, per L.I. 2177, attract fines ranging from six hundred cedis (GH#600.OO) to ten thousand United States dollars (US$IO,OOO).

Nonetheless, having regard to the nature and totality of the circumstances leading to this tragic incident, I, as the Minister responsible for Lands and Natural Resources, and, therefore, the overseer of activities in the sector, have imposed an administrative fine of the cedi equivalent of one million United States dollars at the prevailing commercial rate, on Maxam. In addition to the fine, it has been agreed, after extensive discussions with Maxam, that the company will pay to the Government, the cedi equivalent of five million United States dollars also at the prevailing commercial rate.

For the avoidance of doubt, the total amount payable by Maxam to the Government stands at six million United States dollars or its cedi equivalent at the prevailing commercial rate. Maxam shall pay the fine of one million United States dollars or its cedi equivalent at the prevailing commercial rate before the restoration of its permit to manufacture, store, supply and/or transport explosives.”

Read the full report below

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By: Rainbowradioonline.com/Ghana

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