Forum President Charles Dausabea says Gold Ridge landowners made the call upon learning that proceeds from 22 gold export consignments have been banked in a Foreign Exchange Account in Australia.
The Central Bank has under its foreign exchange regulation granted an authority to Gold Ridge Mining Ltd to bank the proceeds in Australia. The mining company had applied for the authority citing millions of dollars it had spent to have the mine operational.
But Mr Dausabea says members of the Gold Ridge Landowners Association believe the authority might be contrary to an agreement signed between them and the mining company which does not allow proceeds from gold exports to be deposited in an offshore account.
He says the MMF is supportive of the landowners’ call because CBSI appears to have neglected the agreement when it granted the authority to the mining company to bank offshore its gold export earnings.
And Mr Dausabea reiterates MMF will always probe into cases where national interest and that of resource owners’ are not properly addressed.
“We maintain our stand that resource owners and the country must gain the maximum benefits from their resources”.
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