The Otumfuo Commemorative Gold Coin is starting a campaign to make sure that gold is ethically mined and exchanged from all regions under his control.
This fits with the Otumfuo Commemorative Gold Coin project's Corporate Social Responsibility (CSR).
According to representatives of E ON 3 Group, the business that the Bank of Ghana authorized to manufacture the commemorative gold coin, Otumfuo Osei Tutu II is not against gold mining but rather against illicit mining, which is still causing environmental damage.
"Illegal gold mining (galamsey) continues to cause destruction in the Ashanti Region, with unthinkable effects on water bodies and agricultural areas.
In response to our corporate social responsibility, "The Otumfuo Commemorative Gold Coin is rolling out a program to ensure sanity in the system by pursuing activities linked to responsible gold mining in Asanteman. Working with the Manhyia Palace, the action is crucial in convincing investors and consumers of gold that the commodity they deal in has been ethically acquired and manufactured, according to a statement from E ON 3 Group.
Partners
The official banking partner for the gold coin is Access Bank, while the official insurance partners are GLICO and Coronation Insurance Company Ltd.
E ON 3 Group, Manhyia Palace, Ansong Askew, African Responsible Mining Company, Access Bank, KGL Group, Precious Minerals Marketing Company (PMMC), Gold Coast Refinery, GLICO, and others are partners in the project for ethical gold mining. & Coronation Insurance Company Ltd, with assistance from PX Precinox, the World Gold Council, and the Organization for Economic Co-operation and Development (OECD).
further consultation
The King has consistently taken a firm stand against illicit gold mining, and he is now pushing this attitude even further by mobilizing all of his armies to combat these operations in his realm.
The Asantehene, according to the firm, thinks the issue may be saved now rather than later because the conversation has gone on for far too long.
The Asantehene will soon begin a significant campaign for responsible gold mining, according to E ON 3, since he is concerned about the harm done to the environment and water resources.
The diplomatic community and other foreign organizations are joining forces to help the Asantehene in his efforts to bring reason to the gold mining industry in his Kingdom. These include the OECD and the World Gold Council.
"His Majesty has demonstrated immense commitment to the elimination of illegal gold mining and promoting responsible gold mining, and he will be working with stakeholders to ensure that interventions to stop environmental degradation and protect water bodies in his Kingdom are coordinated and fully supported," the company said.
The King has proclaimed this year an "action year" to safeguard Asanteman's lands and water resources from the operations of unauthorized gold miners.
According to the business, Otumfuo Osei Tutu had instructed the chiefs who were under his command to use every effort to safeguard their lands and waterways for the sake of both present and future generations. To guarantee that small-scale gold mining operations do not have a harmful influence on lands and water bodies, he gave the chiefs the responsibility of carefully reviewing all mining papers and keeping an eye on their operations.
Otumfuo Osei Tutu warned chiefs under his control that anyone whose lands and rivers had been destroyed by illegal gold miners would be summoned for questioning and anyone who failed to provide a plausible explanation will be sanctioned to serve as an observer at future regional consultative dialogues on small scale mining.
On October 14, 2022, Otumfuo addressed the Ashanti Regional House of Chiefs in Kumasi and chastised his chiefs for failing to join the battle against illegal gold mining. He charged that some of them had taken money from those who were mining illegally for gold, which made it impossible for them to do their role to effectively combat this practice.
When the US ambassador to Ghana, Virginia Palmer, visited the Asantehene at the Manhyia Palace in October 2022, he discussed President Akufo-pledge Addo's to put his presidency on the line during the height of the fight against the threat of illegal gold mining and questioned why the President had even done so when illegal mining was still taking place.
According to the E ON 3 Group, Otumfuo Osei Tutu thinks galamsey has turned into a menace to the cocoa business and must be eliminated to avoid the country from running the risk of having its cocoa banned from being sold outside.
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