Minerals and Mining (General) Regulations, 2012 (L.I. 2173)

1. Recruitment of expatriates and employment and training of Ghanaians

2. Procurement of local products . ### Exportation, sale and disposal of minerals

3. Application by holder of mining lease .

4. Application by person other than holder of mining lease

5. Shipment of diamonds

6. Application for licence to export industrial minerals ### . General provisions concerning mineral rights

7. Conditions of mineral rights

8. Record-keeping and reporting obligations

9. Notification of mineral operations ### Reconnaissance operations

10. Obligations under reconnaissance licence

11. Minerals obtained during reconnaissance

12. Limitation of rights under reconnaissance

13. Record-keeping and reporting obligations ### Prospecting operations

14. Obligation of holder of prospecting licence .

15. Amendments to programme of prospecting operations

16. Record-keeping and reporting requirements

17. Mineral samples ### Mining operations

18. Marking of mining lease area

19. Amendments to programme of mining operations

20. Obligations of holder of mining lease <!-- page 2 --> Li. 2173 2 ### ' MINERALS AND MINING (GENERAL) REGULATIONS, 2012

21. Commencement and suspension of mineral operations

22. Suspension of production

23. Record-keeping and reporting requirements ### Small scale mining operations

24. Obligations under small-scale mining licence |

25. Record-keeping and reporting requirements ### . Miscellaneous provisions

26. Power of attorney .

27. Delivery of notices and orders

28. Interpretation SCHEDULE <!-- page 3 --> 3 Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 IN exercise of the powers conferred on the Minister responsible for Mines under section 110 of Minerals and Mining Act, 2006 (Act 703), these Regulations are made this day 20th of March, 2012. Recruitment of expatriates, training of Ghanaians and preference for local products ### Recruitment of expatriates and employment and training of Ghanaians

1. (1) An application for a mineral right, a licence to export or deal in minerals or to provide mine support services under the Act or any Regulations made under the Act shall be accompanied by particulars of the applicant’s proposals with respect to the recruitment of expatriates and employment and training of Ghanaians. (2) The particulars to be submitted shall include (a) the curriculum vitae of the expatriates; (b) the positions to be filled by the expatriates and their job descriptions; (c) the conditions of service of the expatriates, including remuneration, allowances and other benefits; (d) the term or duration of the contract of the expatriates; (e) a statement indicating how the applicant intends to train Ghanaians to replace the expatriates within a specified time frame, if available; and () the level of compliance with the ratios stipulated in these Regulations. (3) The particulars shall be submitted (a) together with Form One as set out in the First Schedule; and (6) at intervals of five years after the application has been granted. (4) An immigration quota shall be granted to a holder of a mineral right under the Act subject to the approval by the Commission of the proposals submitted under subregulation (1). (5S) The approved proposals shall form part of the conditions to the mineral right agreement or the appropriate licence granted under the Act. <!-- page 4 --> LI. 2173 4 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (6) The Commission shall not approve an immigration quota or an application to recruit an expatriate unless the Commission is satisfied that no Ghanaian has the requisite qualification and experience to occupy the position for which the expatriate is to be recruited. (7) On the commencement of these Regulations, a holder of a reconnaissance licence or a prospecting licence shall submit for approval, a programme for recruitment and training of Ghanaians which shall include (a) details of ongoing and planned recruitment and training of Ghanaians to replace expatriates; and (b) the percentage of expatriate staff relative to the total num- — ber of staff and senior staff to be maintained by a holder of a reconnaissance licence or a prospecting licence as specified in the Second Schedule. (8) Where the employment of expatriate skilled labour is critical, a holder of a reconnaissance licence or a prospecting licence may, (a) after two years, substitute part or all of the holder’s pro-portion of expatriate staff allowed in the technical, super-visory and management category for skilled labour; or (b) after four years, substitute part or all of the holder’s pro-portion of staff allowed in the management category for skilled labour. (9) On the commencement of these Regulations, a holder of a min-ing lease shall submit for approval, a programme for recruitment and training of Ghanaians which shall include (a) details of ongoing and planned recruitment and training _ of Ghanaians to replace expatriates; , (b) the percentage of expatriate staff relative to the total number of senior staff to be maintained by a holder of a mining lease which is as follows: (i) for the first three years from the commencement of these Regulations or the commencement of mining operations, whichever is later, the percentage shall not exceed ten percent; and <!-- page 5 --> 5 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (ii) after the third year of the commencement of these Regulations or the commencement of mining operations, whichever is later, the percentage shall not exceed six percent. (10) An expatriate shall not be employed in an unskilled or clerical position. (11) Where the application of the percentages specified in subregulation (9) results in (a) the holder of a mining lease being entitled to employ less than three expatriates, the Commission may permit the holder of a mining lease to employ three expatriates; or (b) a fraction, the next whole number shall be the number of expatriates to be employed. (12) On the commencement of these Regulations, a person regis-tered to provide mine support services or licensed to export or deal in minerals shall (a) submit for approval a programme for training and recruit-ment of Ghanaians which shall include details of ongoing and planned training and recruitment of Ghanaians to replace expatriates; and ~ (6) maintain expatriate staff as specified in the Second Schedule. (13) Stibject to paragraph (6) of subregulation (12), unskilled labour, skilled labour, and clerical positions shall be reserved for Ghanaians. (14) Where the employment of expatriate skilled labour is critical for the purposes of training Ghanaian personnel, a mine support service provider or a holder of a licence to export or deal in minerals may substi-tute part of the proportion of expatriate staff allowed as specified in the Second Schedule with the required skilled labour. (15) A person who does not comply with the localisation programme approved under these Regulations is liable to pay to the Commission a penalty of one year’s gross salary of the expatriate involved for each month or part of each month that the expatriate worked. (16) The penalty shall be paid into an account to be established By the Commission for training of Ghanaians for employment in the . mining sector. : <!-- page 6 --> LI. 2173 6 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (17) The payment of the penalty shall not prejudice any other actions that may be taken against the person or the expatriate involved under any other law. (18) The Commission may approve the employment of additional expatriates in exceptional circumstances upon consideration of justifica-tion submitted by the applicant, including (a) where specialised technology would be used; (6) where training of Ghanaians being carried out would require a longer period than the transition period; (c) where a special project including a new mine development, . expansion or rehabilitation is to be undertaken, provided that the duration of the project does not exceed three years; or (d) where Ghanaians are transferred to work as expatriates in the company’s operations in other countries. (19) Where prospecting operations are being carried out on five or more prospecting licences and a corporate office is maintained separately ' from the exploration site offices, a maximum of two additional expatri-ates may be employed in the corporate office. (20) Where mining operations are being carried out on two or more - mining leases and a corporate office is maintained separately from the mine offices, a maximum of two additional expatriates may be employed in the corporate office. ### Procurement of local products

2. (1) A mine Support Service provider, a holder of a mineral right or a licence to export or deal in minerals shall procure goods and services with Ghanaian content to the maximum extent possible and consistent with safety, efficiency and economy. (2) A mine Support Service provider, a holder of a mineral right or a licence to export or deal in minerals shall submit to the Commission for approval, a procurement plan in accordance with subregulation (1). (3) The procurement plan shall be submitted within one year of the commencement of these Regulations or the commencement of that person’s operations, whichever is later. (4) The procurement plan shall be for an initial period of five years, and subsequently for a further five year period. <!-- page 7 --> 7 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (5) The procurement plan shall include (a) targets for local procurement covering at least the items specified in the local procurement list as provided for in ~ subregulation 10; (6) prospects for local procurement; and (c) specific support to providers or suppliers as well as other measures to develop the supply of local goods and services, including broadening access to opportunities and techni-cal and financial assistance. (6) A person who fails to comply with subregulation (2) is liable to pay the Commission a penalty of ten thousand United States dollars for each month of the first six months of default and subsequently ten thou-sand United States dollars for each day that the default continues. (7) The procurement plan shall be revised annually to take account of the requirements in the local procurement list. (8) The holder of a mineral right, a licence to export or deal in minerals or a licenced mine support services provider shall submit semi-annually, reports on the implementation of the procurement plan. (9) A person who fails to comply with subregulation (8) is liable to pay to the Commission a penalty of ten thousand United States dollars for each month of the first two months of default and subsequently ten thousand United States dollars for each day that the default continues. (10) The Commission shall have a local procurement list and specify in the list the goods and services with Ghanaian content which shall be - procured in Ghana by the holder of a mineral right, a licence to export or deal in minerals or a person registered to provide mine support ser-vices. . (11) A holder of a mineral right, a licence to export or deal in minerals or a person registered to provide mine support services who fails to comply with subregulation (10) is liable to pay to the Commis-sion the full customs import duty in respect of the goods imported and a penalty as provided in the local procurement list. (12) The Commission shall review the local procurement list annually. (13) In assessing tenders for goods and services on the local pro-curement list, where bids are within two percent of each other by price, <!-- page 8 --> L.I. 2173 8 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 the bid containing the highest level of Ghanaian participation in terms of ownership and management by Ghanaians and employment of Ghanaians shall be selected. (14) A person whose localisation programme has been approved by the Commission under these Regulations shall submit an annual report to the Commission on or before the thirty-first day of January each year, showing the level of compliance with the approved programme. Exportation, sale and disposal of minerals ### Application by holder of mining lease

3. (1) Subject to section 6(1) of the Act, an application by a holder of a mining lease for a licence to export, sell or dispose of gold or other precious minerals produced by the holder shall be submitted to the Minister as set out in accordance with the Form Two in the First Schedule. (2) The application shall be accompanied with (a) a refining contract; and (b) asales and marketing agreement. (3) The holder ofa licence to export, sell or dispose of gold or other precious minerals shall, before a shipment of minerals is made, provide to the Commission particulars of the quantity and grade of the mineral to be shipped and access for samples to be taken by a government desig-nated laboratory for assaying purposes. (4) The holder of a licence to export, sell or dispose of gold or other minerals shall, . (a) not later than thirty days after a shipment of minerals, sub-mit to the Commission certified copies of the refinery re-turns; (6) comply with the conditions specified in the licence and any other reasonable conditions that the Minister may deter-mine; and (c) submit monthly and annual returns as set out in Form Three of the First Schedule. ### Application by person other than holder of mining lease

4. (1) An application by a person other than a holder of a mining lease or holder of a licence to purchase and export, sell or dispose of minerals under section 6(1) of the Act shall be submitted to the Minister as set out in Form Four of the First Schedule and shall be accompanied <!-- page 9 --> 9 Lj. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 with (a) particulars of financial and technical resources available to the applicant; (b) anestimate of the amount of money proposed to be spent; (c) a business plan or particulars of the programme of the pro-posed operations; and (d) a localisation programme in accordance with these Regu-lations. (2) For the purposes of section 6(1) of the Act, the Minister may grant a licence to an applicant where the Minister is satisfied that: (a) the business plan or particulars of the programme of the proposed operations includes’ - (i) the refining or polishing of the minerals in Ghana before export; (ii) the purchase of only refined or polished minerals for export; or (iii) the supply of a percentage of the minerals deter-mined by the Minister to local refineries to ensure regular supply to local users; and (b) the applicant has access to adequate financial resources, technical competence and experience to carry out the operations effectively. (3) The holder of a licence shall submit monthly and annual returns as set out in Form Five of the First Schedule. (4) The holder of a licence to export, sell or dispose of gold or other minerals shall comply with the conditions specified in the licence and any other conditions that the Minister may determine. (5) This regulation applies to precious minerals only. ### Shipment of diamonds

5. The shipment of diamonds shall be in accordance with the Kimberley Process Certificate Act, 2003 (Act 652). ### Application for licence to export industrial minerals

6. (1) Subject to section 6(1) of the Act, a holder of a restricted mining lease shall obtain a licence from the Minister to enable the holder export, sell or dispose of any industrial minerals produced from the mining operations of the holder. <!-- page 10 --> L.l. 2173 10 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (2) The application for the licence shall be submitted by the holder to the Minister and shall be as set out in Form Six of the First Schedule and shall be accompanied with a marketing contract. (3) A person shall not ship any industrial minerals under this regu-lation unless that person has submitted to the Minister (a) particulars of the quantity and grade or bulk of industrial mineral to be shipped; (b) the sale price at the time of shipment; and (c) the country of destination. (4) A person who ships industrial minerals shall submit to the Com-mission within sixty days after the shipment, certified copies of sales returns in relation to the shipment. (5) A holder of a licence to export, sell or dispose of industrial minerals shall comply with the conditions specified in the licence and any other conditions that the Commission may determine. (6) The holder of a licence to export, sell or dispose of industrial minerals shall submit monthly and annual returns as set out in Form Seven of the First Schedule. General provisions concerning mineral rights ### Conditions of mineral rights

7. (1) The holder of a mineral night and the operator of a mine or a mining related facility, shall (a) conduct mineral operations (i) with due diligence, efficiency, safety and economy, (11) in accordance with good mining industry practice, and (iii) in a proper and workmanlike manner, and (b) observe sound technical and engineering principles and use appropriate modern and effective equipment, machinery, methods and materials. (2) The holder of a mineral right shall comply with the conditions specified in the agreement in respect of the mineral right and any other conditions that the Minister may determine. (3) A condition of a licence or lease which relates to obligations which apply after the expiration of the licence or lease shall continue to <!-- page 11 --> 11 Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 have effect and be enforceable after (a) the expiration of the term of the mineral right; (b) the surrender of the whole or a part of the area specified in the mineral right; or, (c) the cancellation of the right in respect of the whole or part of the area specified in the right. ### Record-keeping and reporting obligations

8. (1) The holder of a mineral right shall keep at the holder’s regis-tered address and, where applicable, the holder’s mine offices, complete and accurate records of operations relating to the mineral right including (a) complete and accurate technical records of its mineral operations, in the title area and where applicable, minerals won and production from the title area; (b) reports, including interpretations, dealing with minerals identified in the title area in the course of mineral opera-tions;* (c) copies of tests and analyses, geological and geophysical maps, diagrams or charts relevant to the mineral operations; (d) where applicable, correct and intelligible plans and sections of mines that show the operations and workings which have been carried on as well as dykes, veins, faults and dis-turbances which have been encountered in the workings or operations; (e) complete records of pits and trenches created by the holder in the title area; and () proper books of accounts and financial records of the holder’s mineral operations prepared according to generally © . accepted accounting principles, showing the expenditure . and, where applicable, the revenues received by the holder from all sources including its mineral operations in the title area. (2) The Minister may publish, in the Gazette and on the website of the Commission, Reporting Guidelines for the purpose of specifying the form of and details required in reports and records required to be sub-mitted under these Regulations. <!-- page 12 --> Li. 2173 12 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (3) The holder of a mineral right shall provide to the Commission other reports and information concerning its mineral operations that are prescribed in these Regulations and in accordance with any Reporting Guidelines made under subregulation (2). (4) The holder of a mineral right who fails to submit a report as - required under this regulation is liable to pay to the Commission a penalty of five hundred United States dollars for each day that the report is not submitted. (5) The holder of a mineral right shall provide the Commission with samples from the title area that the Commission may reasonably request and the holder shall keep the samples in the manner difected by the Commission and published on the website of the Commission. ### Notification of mineral operations

9. (1) The holder of a mineral right shall, at least thirty days, before commencing operations in a District, give written notice as prescribed in regulation 27 to the relevant District Office of the Commission, the Dis-trict Assembly and the communities concerned on entry into the District to conduct mineral operations. (2) The holder of a mineral right shall, at least thirty days, before ceasing operations in a District where that holder has been operating, give written notice as prescribed in regulation 27 to the relevant District Office of the Commission, the District Assembly and the communities concerned before the intended departure. (3) A holder of a mineral right who contravenes subregulation (1) or (2) is liable to pay to the Commission a penalty of not more than five thousand United States dollars in the first instance and a further penalty of five hundred United States dollars for each day the contravention continues. Reconnaissance operations ### Obligations under reconnaissance licence

10. The holder of a reconnaissance licence shall (a) commence reconnaissance operations within one month after the date of issue of the licence or some other further period specified in the licence; <!-- page 13 --> 13 Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (b) carry on reconnaissance operations in accordance with the approved programme of reconnaissance operations; (c) submit quarterly to the Commission, geological and finan-cial reports and other information relating to the recon-naissance operations as may be required; (d) comply with the terms and conditions of any Environmental Permit that relates to the operations to be carried out under the licence; (e) report any mineral discovery to the Commission within thirty days after discovery; : (? on or within thirty days after the end of the term of the licence, remove any camps or temporary buildings or in-stallations that the holder erected to carry out reconnais-sance operations; and (g) within ninety days repair or make good any damage caused to the surface of the land to the satisfaction of the Envi-ronmental Protection Agency and the Commission. ### Minerals obtained during reconnaissance

11. Minerals obtained in the course of reconnaissance operations shall remain the property of the Republic and, except for a reasonable quan-tity that may be kept for the purpose of sampling, assay, analysis or other examination, shall not be disposed of by the holder of the licence or by any other person without the written consent of the Commission. ### Limitation of rights under reconnaissance licence

12. The holder of a reconnaissance licence shall not conduct any pros-pecting or mining operations in the area which is the subject of the licence or in any other area. ### Record-keeping and reporting obligations -

13. (1) The holder of a reconnaissance licerice shall keep complete and accurate records of (a) details of the minerals discovered in the reconnaissance area; (b) results of geological analysis obtained and compiled by the licence holder; (c) results of studies, surveys, tests and other work undertaken in the area covered by the licence, including any interpre-tation and assessment of the tests and surveys; <!-- page 14 --> Ll. 2173 14 | MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (d) financial statements and other books of account that the Commission may require; and (e) reports and any other information that the Commission may determine. (2) The records and reports to be maintained under subregulation (1), shall be submitted to the Commission in the manner and form speci-fied in the Reporting Guidelines or as directed by the Commission by written notice to the holder. (3) The Commission shall prepare and publish in the Gazette Reporting Guidelines which shall specify the manner and form in which records and reports are to be submitted to the Commission. Prospecting operations ### Obligations of holder of prospecting licence

14. The holder of a prospecting licence shall . (a) commence prospecting operations within three months or within any other further period specified in the licence, after the date of issue of the licence and shall supply, at least once in every three months, copies of the records required in these Regulations to the Commission;. (b) carry on prospecting operations in accordance with the programme of prospecting operations; (c) give notice to the Commission in writing of the discovery of the mineral to which that holder’s prospecting licence relates within a period of thirty days after the discovery; (d) give notice to the Commission of the discovery of any other mineral deposit of possible economic value or other-wise within a period of thirty days after the discovery; (e) backfill or otherwise make safe any excavation made dur-ing the -ourse of the prospecting operations, to the rea-sonable satisfaction of the Commission; () permanently preserve or otherwise make safe any borehole in the manner directed by the Commission and surrender to Government without compensation the-boreholes and any water rights in respect of the bore holes after the termination; <!-- page 15 --> 15 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (g) unless the Commission otherwise directs, remove, within sixty days after the expiry or termination of the licence, any camp, temporary building or machinery erected or installed by the holder, and repair or otherwise make good XL, any damage to the surface of the ground occasioned by the removal, to the reasonable satisfaction of the Environ-mental Protection Agency and the Commission; and (h) subject to the conditions of the licence and the provisions of section 37 of the Act, expend on prospecting, in accor-dance with the programme of prospecting operations, not less than the amount specified in the prospecting licence. ### Amendments to programme of prospecting operations

15. (1) The holder of a prospecting licence may, give notice to the Minister of amendments to the programme of prospecting operations and the amendments shall, unless the Minister rejects them within two months after being notified, have effect after that period. (2) The Minister may allow an amendment to the approved programme of prospecting operations where the Minister is satisfied that (a) the proposed revised programme of prospecting operations will ensure the most efficient prospecting of the mineral resources in the area; (b) the proposed prospecting area extends to cover only that area reasonably required for the proposed revised programme of prospecting operations; and (c) the holder of the prospecting licence demonstrates secured , access to adequate financial resources, technical compe-tence and experience to carry on effective prospecting op-erations in accordance with the proposed revised programme of prospecting operations. (3) The Minister may cause investigations to be conducted or negotiations or consultations to be carried out as the Minister considers necessary to ensure that a proper assessment is made to ascertain whether : the criteria in subregulation (2) have been satisfied. es (4) The Commission may, on an application by the holder of a prospecting licence, limit or suspend the obligation to carry on prospect-ing operations or to expend moneys as required by section 37 of the Act, where the holder of the licence can make a suitable case for the obliga-tions to be temporarily suspended. <!-- page 16 --> LI. 2173 16 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 ### Record-keeping and reporting requirements

16. (1) The holder of a prospecting licence shall keep full and accu-rate records of prospecting operations, including (a) boreholes drilled; (b) strata penetrated, with detailed logs of the strata; (c) minerals discovered; (d) the results of any geochemical or geophysical analysis; (e) the result of any analysis or identification of minerals removed under section 37 of the Act; 7 (M the geological interpretation of the records maintained under paragraphs (a) to (e); (g) the number of persons employed; and (h) any other prospecting work not listed above. (2) The records and reports to be maintained under subregulation (1), shall be submitted to the Commission in the manner and form speci-fied in the Reporting Guidelines, or otherwise as directed by the Com-mission or the Ghana Geological Survey Department by written notice to the holder. (3) The holder of a prospecting licence shall submit to the Com-mission, at least quarterly and not later than fifteen days after the end of each quarter, a report containing the information required under subregulation (1). (4) The holder of a prospecting licence shall submit to the Com-mission half-yearly and not later than thirty days after the half-year to which the report relates, a report summarising the results of prospecting operations undertaken in the title area during the half-year and containing the information required under subregulation (1). (5) The holder of a prospecting licence shall submit to the Com-mission at the end of the financial year and not later than thirty days after the end of the financial year to which the report relates, a report summarising the results of prospecting operations undertaken in the title area during the financial year and, if applicable, a description of the proposed operations for the following year. (6) A person who (a) fails to (i) keep a record or information required to be kept under sub-regulations (1) and (2); or <!-- page 17 --> 17 | LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (ii) supply any record to the Commission in accordance with this regulation; or (b) supplies any false or misleading record or information to the Commission, commits an offence for the purposes of section 106 of the Act. ### Mineral samples

17. (1) The holder ofa prospecting licence shall not, without the written permission of the Commission, which permission shall not be unrea-sonably withheld, and subject to reasonable conditions that the Minister may determine, remove any mineral from a prospecting area except for the purpose of having the mineral analysed, valued or tested. (2) The holder of a prospecting licence shall (a) provide to the Commission samples from the title area as the Commission may reasonably request, and . (b) keep samples in the manner directed by the Commission. (3) On the surrender or termination of a prospecting licence, the holder shall submit all drill cores and samples to the Commission or to any office designated by the Commission. Mining operations ### Marking of mining lease area

18. The holder of a mining lease shall, within thirty days after the receipt of the lease, paint and keep painted on each notice board of the relevant beacon during the period of the lease, the number assigned to the lease by the Commission. ### Amendments to programme of mining operations

19. (1) The holder of a mining lease shall give notice to the Commis-sion of amendments that the holder wishes to make to the approved programme of mining operations and the amendments shall, unless they are rejected by the Minister within two months after the Minister has been notified, have effect after that period. (2) The Minister may allow an amendment to the approved programme of mining operations where the Minister is satisfied that: (a) the proposed revised programme of mining operations will ensure the most efficient use of the mineral resources in the area; <!-- page 18 --> LI. 2173 18 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (b) the title area extends to cover only that area reasonably required for the proposed revised programme of mining operations; and (c) the holder of the mining lease demonstrates secured access to adequate financial resources, technical competence and experience to carry on effective mining operations in accordance with the proposed revised programme. (3) The Minister may cause investigations to be conducted or negotiations or consultations to be carried out as the Minister considers necessary to ensure that a proper assessment is made to ascertain whether the criteria in subregulation (2) have been satisfied. (4) Subject to section 51 of the Act, the Commission may, on an application by the holder of a mining lease, limit or suspend the obliga-tion to carry out mining operations, to expend moneys, or commence or continue production as required under the lease where, the holder of the mining lease can make a suitable case for the obligations to be tempo-rarily suspended. ### Obligations of holder of mining lease

20. The holder of a mining lease shall (a) commence mining operations within twenty-four months of the grant of the lease, or within the period of time speci-fied in the lease or in any Development Agreement entered into pursuant to section 49 of the Act; (6) conduct mining operations in compliance with the approved programme; (c) demarcate and keep demarcated the mining area in the manner prescribed under these Regulations; (d) comply with the terms and conditions of the mining lease and any applicable Development Agreement; and (e) comply with requests and directives issued by the Com-mission, including directions made by inspectors in the Inspectorate Division given in accordance with the Act and these Regulations. ### Commencement and suspension of mineral operations

21. (1) The holder of a mining lease operator shall give notice to the Commission of (a) the commencement of mining operations in the mine; <!-- page 19 --> 19 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (b) the suspension of mining operations in the mine; (c) the recommencement of mining operations, in the mine, after suspension; (d) the closure of mining operations in the mine; (e) any substantial change to the mining operations in the mine; (f) the commencement of installation of any major item of machinery or equipment in the mine; and (g) the commencement of any major construction activity in the mine. (2) The notice required in subregulation (1) shall be provided before, as applicable, the commencement, suspension, substantial change, instal-lation or major construction, closure or recommencement. (3) A notice required to be provided in subregulation (1) shall be provided within ninety days. (4) A person who contravenes subregulation (1) is liable to pay to the Commission a penalty of ten thousand United States dollars and a further penalty of two thousand United States dollars for each day the contravention continues. ### Suspension of production

22. (1) Subject to section 51 of the Act, where the holder of a mining lease proposes to suspend or discontinue mining operations, the holder shall cause to be prepared to the satisfaction of the Commission an accu-rate plan of the mining operations as at the time of discontinuance or suspension and shall submit that plan to the Commission in accordance with these Regulations before the mining operations are discontinued or suspended. (2) For the purposes of subregulation (1), where operations in a mine are to be suspended or discontinued, the holder shall submit plans to the Commission and the plans shall be subject to the approval of the Minister in accordance with section 51 of the Act. (3) Where the suspension, curtailment or discontinuance of mining operations is approved, the Commission may grant, on behalf of the Minister, a certificate for the period and subject to the conditions deter-mined by the Minister. <!-- page 20 --> LI. 2173 20 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (4) Where work is not resumed at the expiration of the period of cessation or suspension specified in the certificate referred to in subregulation (3), or where the conditions specified in the certificate are not complied with, the Minister may revoke the mining lease. « - (5) A certificate of cessation or suspension obtained through fraud or misrepresentation is void and the lease shall be revoked without preju-dice to any penalty specified in these Regulations. (6) A holder who contravenes this regulation commits an offence and 1s liable on summary conviction in the case of a body corporate, to a fine of not more than the penalty units equivalent of ten thousand United States dollars or in the case of an individual, to a fine of not more than the penalty units equivalent of five thousand United States dollars. (7) The suspension or closure of the mine does not affect the validity period of the corresponding mining lease or small scale mining licence and the responsibilities for the payment of annual and rental fees. ### Record-keeping and reporting requirements

23. (1) The holder of a mining lease shall keep at the holder’s regis-tered address complete and accurate records of mining operations including (a) copies of maps, geological reports, sample analyses, aerial photographs, boreholes drilled, cores, logs and tests and other data obtained and compiled by the lease holder; (6) details of minerals discovered; (c) results of geochemical or geophysical analysis obtained and compiled by the lease holder; (d) results of studies, surveys, tests and other work undertaken in the area covered by the mining lease, including any in-terpretation and assessment of those tests and surveys; (e) the geological interpretation of the records maintained | under paragraphs (a) to (d); (f) details of minerals won, quantities sold, revenue received and royalties payable, royalties paid, taxes paid, dividends paid, communities social responsibility programmes; (g) financial statements and other books of account that the Commission may require; (h) the number of persons employed; and (i) any other information that the Commission may specify. <!-- page 21 --> 21 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS. 2012 (2) The records and reports to be maintained under subregulation (1), shall be maintained in the manner and form specified in the Report-ing Guidelines, or as otherwise directed by the Commission by written notice to the holder. (3) The holder of a mining lease shall submit to the Commission monthly, and not later than fifteen days after the end of each month, a report containing the information required under subregulation (1). (4) The holder of a mining lease shall submit to the Commission half-yearly and not later than thirty days after the half-year to which the report relates, a report summarising the results of mining operations undertaken in the title area during the half-year and containing the infor-mation required under subregulation (1). (5) The holder of a mining lease shall submit to the Commission at the end of the financial year and not later than thirty days after the end of the financial year to which the report relates, a report summarising the results of mining operations undertaken in the title area during the financial year and a description of the proposed operations for the following year together with an estimate of production and revenue to be obtained from the operations. (6) The holder of a mining lease shall submit to the Commission not later than one hundred and eighty days after the end of each financial year, a copy of each of its annual financial reports including a balance sheet, profit and loss account, and all notes pertaining to the records, duly certified by a qualified accountant who is a member of the Ghana Institute 6f Chartered Accountants. (7) A person who (a) fails to (i) keep a record or information required to be kept under subregulations (1) and (2); or (ii) supply any record to the Commission in accordance with subregulation (3) to (5); or (b) supplies any false or misleading record or information to the Commission, commits an offence for the purposes of section 106 of the Act. <!-- page 22 --> LI. 2173 22 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Small scale mining operations ### Obligations under small-scale mining licence

24. The holder of a small-scale mining licence shall (a) commence mining operations under the licence within six months after the grant of the licence or any other period specified in the licence; (b) conduct mining operations in compliance with the mining plan approved by the Commission; , (c) demarcate and keep demarcated the concession boundaries in the manner prescribed in these Regulations; (d) comply with the terms and conditions of the licence; and (e) comply with directives issued by the Commission or an authorized officer in accordance with the Act and these Regulations. ### Record-keeping and reporting requirements

25. (1) The holder of a small-scale mining licence shall keep at the holder’s registered address, complete and accurate records of mining operations including (a) copies of maps, geological reports, sample analyses and other data obtained and compiled by the licence holder; (6) details of minerals discovered; (c) results of analysis obtained and compiled by the holder of the small-scale mining licence; . (d) results of studies, surveys, tests and other work undertaken in the title area, including any interpretation and assess-ment of those tests and surveys; (e) the geological interpretation of the records maintained under paragraphs (a) to (d); (f) details of minerals won, quantities sold, revenue received, . ‘ taxes paid, royalties paid and payable; (g) financial statements and other books of account that the Commission may require; (h) the number of persons employed; and (i) any other information specified by the Commission. (2) The records and reports to be maintained under subregulation (1), shall be maintained in the manner and form specified in the Reporting <!-- page 23 --> 23 Ll. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Guidelines or otherwise as directed by the Commission by written notice to the holder. (3) The holder shall submit to the Commission half-yearly and not later than thirty days after the half-year to which the report relates, a report summarising the results of mineral operations undertaken in the title area during the half-year and containing the information required under subregulation (1). (4) The holder shall submit to the Commission at the end of the financial year and not later than thirty days after the end of the financial year to which the report relates, a report summarising the results of mining operations undertaken in the title area during the financial year and a description of the proposed operations for the following year to-gether with an estimate of production and revenue to be obtained from the operation. (5) The holder shall submit to the Commission not later than ninety days after the end of each financial year, a copy of each of its annual financial reports, duly certified by a qualified practising accoun-tant who is a member of the Ghana Institute of Chartered Accountants. (6) A person who (a) fails to (i) keep a record or information required to be kept under subregulations (1) and (2); (ii) supply a record to the Commission in accordance . with subregulation (3) to (5); or (b) supplies false or misleading record or information to the Commission, commits an offence for the purposes of section 106 of the Act. Miscellaneous provisions ### Power of attorney -

26. A person may appoint another person as an attorney to act for that person in dealing with a mineral right or application for a mineral right by lodging with the Commission a notice of appointment of attorney or a power of attorney as set out in Form Eight in the First Schedule. ### Delivery of notices and orders

27. Unless otherwise stated in the Act or these Regulations, any notice, order, process or other document, required or authorized to be made <!-- page 24 --> L.I. 2173 24 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 under the Act or any Regulations made under the Act, to be given to or served on a person, may be served by (a) delivering the notice to that person; (6) delivering the notice to an agent of that person; (c) forwarding the notice by post in a certified or prepaid registered letter addressed to that person at that person’s registered address in the case of the holder of a mineral right, or that person’s last known place of abode or busi-ness in other cases; (d) facsimile, where the person has provided in writing to the person wishing to serve the notice, a facsimile number for the purpose of the serving of notices and confirmed by registered mail; (e) email where the person has provided in writing to the per-son wishing to serve the notice, an email address for the purpose of the service of notices; or (f) registered mail. ### Interpretation

28. In these Rregulations, unless the context otherwise requires, “Act” means the Minerals and Mining Act, 2006 (Act 703); “Agency” means the Environmental Protection Agency; “agent” means any person acting on behalf of another person or of the Commission; “Commission” means the Minerals Commission established under section 1 of the Minerals Commission Act, 1993 (Act 450); “employee” means a person who undertakes work in an area covered by a mineral right under a contract of employ-ment or apprenticeship; “Environmental Assessment Regulations” means the Environ-mental Assessment Regulations, 1999 (L.I. 1652); “environmental impact assessment” means the process for the orderly and systematic evaluation of a proposal including its alternatives and objectives and its effect on the environ-_ ment including the mitigation and management of those effects; the process extends from the initial concept of the proposal through implementation to completion, and where appropriate, decommissioning; <!-- page 25 --> 25 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 “environmental impact statement” means a document prepared by an applicant to present the case for the assessment of the proposal of the applicant as part of the environmental impact assessment process; “environmental management plan” means a document repre-senting efforts that will be made to manage any significant environmental impacts which will result from an existing undertaking; “environmental permit” means an environmental authorisation to commence a proposed undertaking or continue with the undertaking, issued after registration of the undertak-ing, or upon submission of a preliminary environmental report or environmental impact assessment; “inspector” means an inspector of the Inspectorate Division appointed under the Act; “localisation programme” includes a procurement plan and means proposals or particulars with respect to the employ-ment or recruitment of expatriates, employment and train-ing of Ghanaians towards the eventual replacement of ex-patriate personnel by Ghanaian personnel and preference for local products, as the context permits; “manager” means a manager appointed by the operator in ac-cordance with section 16 of the Act and, means in relation to a mine or other facility: (a) a manager for that mine or facility, appointed by the holder of a mining lease or a restricted mining lease; (b) a person who is appointed by the registered man-ager to have the immediate charge and direction of the mine or facility; and (c) a deputy manager appointed by a registered man-ager or who is appointed by a person referred to in sub-regulation (b); “precious minerals” include (a) emerald, garnet, ruby, sapphire, turquoise, and any other precious stones that are prescribed by the Com-mission; and <!-- page 26 --> LI. 2173 26 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (6) precious metals, namely gold, silver, or other metals of the platinoid group in an un-manufactured state and, any other rare earth metals that are prescribed by the Commission; “prospecting operations” means operations carried out under a prospecting licence; “reconnaissance operations” means operations carried out under a reconnaissance licence; “Reporting Guidelines” means the guidelines published pursuant to regulation 8(2), 13(2), 16 (2), 23(3) or 25(3); “senior staff” means an employee of a holder of a mineral right or a mine support provider above the level of supervisor; - “small-scale mine” means a mine operated under a small-scale mining licence; and “title area” means an area which is the subject of a mineral . right. SCHEDULES . s <!-- page 27 --> 27 L.I. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012

FIRST SCHEDULE FORM ONE Expatriate Recruitment Application Form (Regulation 1(3)(a)) EXPATRIATE RECRUITMENT APPLICATION FORM SECTION 1:. LICENCEE’S IDENTIFICATION DATA Full Name of Licencee City/Town/Village P| Email Address Region || Website | Mobile Phone Line # P| Licence Type # SECTION 2: EXPATRIATE’S DATA Full Name of Expatriate Date of Birth [Position | Placeor inn |__| Picture of xpatriate Date of Employment |__| Nationality |__| Duration of employment p | Passport Number: P| FixedPhoneLine # | | Email Address:_| | Facsimile # P| Mobile Phone # , Permanent Address Remuneration Per Month (US$) me <!-- page 28 --> LA. 2173 28 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 SECTION 3: GHANAIAN COUNTERPART’S DATA Full Name of Ghanaian Counterpart Picture of resent Position Ghanaian Expected Tak Dat Counterpart _.) Fixed Phone Line P fo a . Mobile Phone . Email Address Permanent Address SECTION 4: SUMMARY OF PLANNED PROGRAMS FOR GHANAIAN COUNTERPART Planned Training Program Tf Cost + I declare that the information provided above is true and correct. I agree to abide and be bound by the terms, conditions and contractual provisions governing the expatriate recruitment into Ghana’s mining sector. . Signature Right Thumb Print SECTION 5: DOCUMENTS SUBMITTED BY APPLICANT (OFFICIAL USE ONLY) [ ]Receipt of Payment for application C) Photocopy of Expatriate’s Passport Form CJ 2 Passport Size Pictures of both the Expatriate and Processing Fee (Bankers Draft # ...) Ghanaian Counterpart ‘ Checked and Received by ; ; Signature of Receiving Officer <!-- page 29 --> 29 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form Two Application Form for licence to export, sell or dispose of gold or other precious minerals by a holder of a mining lease (Regulation 3(1)) APPLICATION FOR LICENCE TO EXPORT, SELL OR DISPOSE OF GOLD BY A HOLDER OF A MINING LEASE APPLICATION NO.: ( SECTION 1: APPLICANT’S IDENTIFICATION DATA NEW APPLICANT Oo RENEWAL OF EXISTING LICENCE oO Are you applying for the first time? Yes gq No oO Have you previously held a similar Licence? Yes Oo No oO If Yes, please provide the following information: Date of Grant of Previous Licence:..................cceeee eee ees Duration: ..... 0... ceceececceeceeaeeeeeceeeeeaaeeeeseeeeusaneenes Name under which Previous Licence was acquired:..............c0cscceeee cece ee eee eneeneee eens Full Name of Applicant Full Name of Mine Registered Office of Applicant (Location Address) s Postal Address P. O. Box Facsimile # City/Town/Village Email Address Region Website Fixed Phone Line # Mobile Phone Line # — Applicant’s Tax Identification Number (TIN) Applicant’s VAT Identification Number SECTION 2: APPLICANT’S FINANCIAL DETAILS Full Name of Bankers and/or Financiers Postal Address P.O. Box Facsimile # City/Town/ Village Email Address Region " Website Fixed Phone Line # <!-- page 30 --> LI. 2173 30 . MINERALS AND MINING (GENERAL) REGULATIONS, 2012 I declare that the information provided above is true and correct. I agree to abide and be bound by the terms, conditions and contractual provisions governing the operation of the license sought which I have received, read and understood. bececaeeceenaeeceeaacetaagesseeeees Dated............ Dayof..... ee 20, Signature(s) or Seal as Appropriate SECTION 3: DOCUMENTS SUBMITTED BY APPLICANT (OFFICIAL USE ONLY) (J Refining Contract(s) Number of Contract (s).........[7] Receipt of Payment for Application Form C] Sales & Marketing Agreement ([-] Evidence of Payment of Prescribed Application Processing Fee (Receipt # :...............0:00208) Submission Date vececcte] cettetecee LD ceceeeneenee Checked and Received by Submitted by Signature of Applicant/Rep. Signature of Receiving Officer » <!-- page 31 --> 31 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 FORM THREE Form of returns of a holder of a licence to export, sell or dispose of gold or other minerals (Regulation 3 (4)(c)) (a) Monthly Returns - (b) Annual Returns . <!-- page 32 --> LI. 2173 32 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3(a) Lease Registration Code Number: .......... Month: ........ ee YOaT? oo eeeecteeeeees Minerals Commission —Monitoring and Evaluation Department Form MR: MLG—Monthly Report: Mining Lease (for Gold) 0 Received att... ceceececesesssesssessessereseneneesaesenenees F . Cc an . I Authorizing OfffCer: 0.0... eecceeeeseeeeeenseeeneneeees ; Report is confirmed complete:..........::::ecees U Reviewing OfFICEr: oe eeceesteeesesesnesesceeseeeneeeenees Note to the preparer: On this form report only matters pertinent to the registration code number reported above. Use a separate reporting form for each registered lease (combined reports are not permissible) A. COMPANY DETAILS 1. Name of Company ........scscccseesesseseessessssresssecssssersseesssneee MUMOPAN(S)...ceecseeeeseseesseeessseecennessaneessnes 2. Registered Address... ecsescssssesecssesseesecsesseesaesaseerequsssesseersensseesscsesanensnsnnscsnennsnereanenaneensenass 3. Postal Address ..cccecccscscsssessssssescsesescscscseseeeseeseerseseseseseeceeessesseeesseesansesneneesssesnsesesasissessacansnesenneanenees A. Name Of Mine ........c-scscescessseceesseesseverseesssseees DISUTICE oo eceeeeeeeeeeeeesseeseeereeeLOCAUION veces 5. Camp Site o...eeseecceecseccsessseseneereesseesseessncssensseensecnncenessnsennecnsssnesanesnsssesenassssseseenncsassnaeennscnnssaaesaasgss 6. FAX ccecceccesseccecsscsestssessesssssssssecssecessesssesseseceeseeaee WODSILG voc cccsceessseseeseeseecesecnserseessnsusensentsnesncanereeness DT. Eemmail .ccccseeccecsseccssessessssessesssesssessseseseessesseseeesee DOLOCPHONE.....sesesssesseeeeees Cell PONE «... eee 8. Name of Parent Company and Address (if any) ........c.sccceseseeeeseseeeeeeneseereseereneneenensansnnensnnsatens <!-- page 33 --> 33 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) 1. COMPANY DIRECTORS Name of Director Nationality (C) cececssssceesecssscccssseseseecossecesssecstecseseesaensnensesseseets sesessseaesesesesescaescsecessacsescacseacerseseecsenease® 2. COMPANY SHAREHOLDING Name of Shareholder Nationality % Shareholding (A) ceesseccsseccsecsesesesseeeceesseeeecarseaeseseese cessuessseeneueeeesuesesnenesearsucavecse sessasesessesesersecesesaneessaeneneseeess (©) ceeesecessccesececsececcsscstsecescsesesescateaeee senseecucnececneseseeacansescnceesencaee caeseeneasasseesasesseeseaeeneeeenseeseass 3. DIRECTORS OF PARENT COMPANY Name of Director Nationality .) sesevesesessutseseceuseteessecsenseceeseasesssseneneetis (€) ceccssssesssesesessseessessceescsscssecesceesseeeecereseseseeseerees pesecaeseseeceseseresacseseseeaesreesereceeseseneeaeensens <!-- page 34 --> LI. 2173 34 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) 4. KEY SHAREHOLDERS OF PARENT COMPANY . Name of Shareholder Nationality % Shareholding (A) cesesecsccsessescecseacseccacsescseceacceecseee cesesecacacscacarseceseceneeesseneeenacaee seetuentaeseaeeserscseqeeneransesneeseeaes (CC) eccccccccccsessccscsesessccsecaesesesscsecssesceee sasscscesescsesescseeseasseececeneneecees ateacseasseseeetacseetecasataeeeaneneeeets <!-- page 35 --> 35 LJ. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) B. GEOLOGICAL SUMMARY Grade Contained sale- Tonnage (oz, carat, ../tonne | able minerals (oz, (metric tonnes) | of each saleable | carat, tonnes ... mineral) of each saleable mineral | ProvenOreReserves | | | | TotaiReserves | fT | Mndicated Mineral Resource* {fT a * According to JORC (Australasian Joint Ore Reserves Code for Exploration Results, Mineral Resources and Ore Reserves). C MINING SUMMARY i. Mining Method (Underground/Surface/Alluvial) on... eeesssesssesssseseeceesesereeeseeseneees ii, Contract/Owner Mining (circle appropriate) - Name of Contractor (if applicable)...... ili, Type of Ore Mined Tonnage (t. m’) Grade (g/t. g/m’) Cumulative (month to date) Oxides eseaeenenseeatseeeseeeeeseenee eseeseseseeseseaeseeeneseens seseecseescseansusaeaensesscsesuesesssseeesess Sulphides ooeeccccecccccscesesee 0 seseseereseescseseercaeeeeeeees sess tevesesseaesessasetessentseneeceneacenseets Conglomerate ...........cccceeeeeeee sesescueneseaeenseseseseeecnene seseatseseseseacacseneaeseaeaesseateteneseateeee Alluvial seseeseeseeseesesneseseeseesee 0 seesseagecserensssseesuesereese secscsaeesessueeseseneatesstessecnteanecesesees Others eeseeeeveneesecueatansneteneres setaseesenecucueateneaeenenes esesenececseacsetecacetenensensneseneseereesanes iv. Average sesereesseeeessseeseesesseeseesersnes v. Waste Mined seseseeuceesesseeacacseessueaeeeteese vi. Pit Dewatering (mm?) o..e.eessesessecesseeeseeteeteseeees vii. Dilution Factor ceceeseneecescaeneneeteneneneeaeeeeee , viii. Stripping Ratio seseseceneeeesssceeseseaeeeensnesenees <!-- page 36 --> LI. 2173 36 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3{(a) ° ix. Equipment (List All) Type Number Capacity Owner (Company or Contractor) PO Pe Pe Pe PT Pe PO x. Processing and Metallurgical Returns Method Gold Won (troy 02) Silver Won (troy oz) Total eecsssessesssseessesessasseseees ceseaeeseceesersseeeaeeneeeescseneeaeess Month Cumulative (month to date) Ore to Treatment Plant (t/m?) 0.2... eeccceeeeeneeceeeeeeeeeeeeees becca eceueceeeeseeeeeeees Quantity of Ore Treated (t. m?) 00.0... ceeee cece ee eee ee nee ees beceseceeeeeeeneeeeeeenes Head Grade (g/t. g/m*) cece e ce eceeeeeeeaueeeaaeeeeeeeenaeetaees becca ceesesceeaeeeeaeeees (R + r) Grade (g/t. g/m*) Lecce eeceeeeeaeeeeaaeeeeaeeeeaneeaenes becca eeeeaeeeeeneeeneeees Tailings grade (g/t. g/m?) bev eececeuegeeeecaeeeeceeaeeseeeeereess ceeeecueeeeeeeqaeeeeeeues Total Gold won (troy ozs) bee e cde eeceeeecaeneecaeeeeaeeeeeeseeness beceaeeeeeeetee scene tees By-Products recovered (specify) .........ccccceecesseteeeeeeeeenes cee ecaebaeeaeceecteeeens <!-- page 37 --> 37 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) xi. Refinery Returns Attach Copy of Refinery Returns indicating Gold Recovered (troy ozs), Silver Plati- num, etc. Sales Proceeds (US$), Unit Price (US$ /fine oz). . xii. Local Sales | Quantity Proceeds Buyers Be cesceseeseesseeseeeseees eseseeseeeseeneeeneeeaeeaes seeeseeesecececseeaneesecnaeeseenaees Attach copies of receipts from local buyers xiii. Mine Development a. Surface Mining - Cut backs - Ramp Extension - Road Construction Drill - Other Infrastructure b. Underground Mining ‘ - Drives - Stopes - Raises - Cross-cuts ~ - Winzes - Shafts - Drilling - Others <!-- page 38 --> Li. 2173 38 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) D. PRODUCTION EXPENDITURE . i. Average Monthly Foreign Exchange Rate Applied (Cedis/ US$)... ee FC(US$) LC(GH¢ )** ii. Total Cash Cost a teeeeeecensaeeeeeeeeeseneaeeees becteeeecteseentseseesaes iii. Total Cost deceaeeeeeceeeeeaeeeeaeeeeeaeeeees beetaeveeceeteaseeesueees iv. Total Cost Details: (a) Salaries and Wages (Gross) i. Local desc eecaeeadesceseeeseceeeceetens beceeeeeeaueeecneeenaeees ; ii. Foreign we teeeseeategeereeeteeee erent beceaeeeeeueeesaeeesaees (b) Bank Interest bevececeaceecececeeenetecenenanees beteeecaeeeeeceaeeeseeses (c) Interest to Affiliate be ceeceececaaseecaneeesaesecaasees becca eeeeneeeeeueeetaees (d) Royalty Payable (¢) besecuvsaeseveueeeceuesuneeeeesas besceceeeseceeeseensceees (e) Royalty Paid (¢)*** eseueteeecuteeesseeesseeeeeseees beeveseseceveteeeeseeens - (f) Comporate Tax beceseeeeeceeseceucuaeeneaceseeees Seseeeeeeaeeneaaneeesetes (g) Depreciation (for tax) beceaceecenaneeeneeeeeuaeseeen tees beeceaececeeeeeaueeeeees (h) SSF by Employer sesececeauaeeeeseenaaeeeeeeaaeesess beeeteeseeeeetaaeesenees G) Consumables becca aes eceneeeeesesceaaeeeenee sees beceeaeeeaeeeeaeeeeseeees (j) Utilities . vedecececaaeeeeeeenaaneeteenageeees beveeeeceeeaacaeseeeetees . (k) Fuel becca eeeceeeea cece seen eeeaeeeuenees beecaeceueeneeeeeeeneees (1) Maintenance Cost bebe becca eeeneecteetaeeeaeeene tees Lecce eeeuteaseetaeeeueees TOTAL | | *FC= Cost incurred in foreign currency for specific activities/cost item **LC= Cost incurred in local currency for specific activities/cost item ***Royalty Paid: attach a copy of IRS receipts. <!-- page 39 --> 39 LI. 2173 ‘ MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES . FORM 3 (a) v. Consumable Details Item Country |Quantity]Unit of Price/| Vane of Origin | Consumed | Measure Unit List types [Petrol TCC Diesel | CCC [Lubricants fT time fFlocculants TTC [CausticSoda TT fAntiscalant fT jActivatedCarbon [Of TC jStelBalls [CTC {bestechione nad ff tt SodiumCyanide [| CTC fSodaAsh TCT TC fiydrogenFerontdef | | sd dT [StelBalls | Sd] CT CC fcement | iP [FlotationReagents| | CT COT [Copper Sulphate [OT Crucible TC Silica TCT CC jSulphuricAcid [CC [SulphamicAcid | |_|} |_| [Copper Sulphate |__| || |___ yXanthate TCT CC fPromoterTSSgis |] CEC [Nitric Acidandothers [fT CC JFlux(Remixy fC fFrother TCC [Others (PleaseList)[ | CT CT CU Pee <!-- page 40 --> LI. 2173 40 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) vi. Utilities Details: — . Consumption | Power a. Electricity Price/Unit (kwh) (kwh) a oe ; Consumption 0 . b. Water Price/Unit (Litres) FC(US$ LC(GH¢ a c. Telecommunication po <!-- page 41 --> 41. Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) E. MONTHLY SUMMARY LABOUR RETURNS 7 pf eae abour | Labour Casual ; pot fF Tf tf ft tt fro { of te ee eee eee *Indicate the total number of people employed from the community: 1, Cr Female 0... eee TOtdd cee cceeeeeeeenseeeeeeees <!-- page 42 --> LI. 2173 42 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 _ MINERALS COMMISSION _ MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3 (a) F. ENVIRONMENTAL AND SOCIAL BRIEF Environmental Impact and Mitigation Measures Social Impact and Mitigation Measures Corporate Social Responsiblity (CSR) Projects and their Cost Occupational Health and Safety Issues <!-- page 43 --> 43 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON GOLD MINING COMPANIES FORM 3(a) | G GENERAL COMMENTS Brief report on Occupational Difficulty, New Technology or anything of interest I HEREBY ‘CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE NAM on. eeecceeesseeecscsecseseseescnecsssnsssensneressssenesesnenseaeseenees Signatures ccscsesevstnensesvnsesetese Designation:...........ceccescssecseecsssssesssseesstsssnssseesessscessene DAO! cc eceeeeseenneenessnesseesseeaesnessaseneeseeeasensens <!-- page 44 --> LI. 2173 44 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form of annual returns of a holder of a licence to export, sell or dispose of gold or other minerals (Regulation 3 (4) (c)) FORM 3 (b) Reporting Year... A. COMPANY DETAILS 1. Name of Company ...............:::0::eee2:, Mineral Produced ..... i eeeeeeees 2. AddreSS oo... cecccecceeeeeecccceneeeeeeeeeeaaeaeeeeeeaeeeeeseeaeeececeseeeeeseseseeeneecetsuaeeesesueeengess 3. Location/Concession ...........::ccceeeeeeeeeeeee Miming Area oo... .eeceieeeesseeeereseseaeees 4, Fax wocceecccccceecceeeeee WEDSIEG Ce cccccceccceceeee ee eB) co ccececeeceeeeeeeeees 5. Company Directors (A) veeeeeceseeesecceeeeteeteceenereterseenneteneeeteee (CG) ciecccccseeeeecseaeeeseeeeteeneeeeesseeeeneeeeesenaes (BD) eeeceeceeresercereceeterennretreceecteetcceesecees (OC) ceceeecceeeeteeeeeeeeee reser tetenteteettenenereeneeteress 6. Company Shareholding: Name of Shareholder % Shareholding (A) eeeececeeeccccceeeccenecececteccenueneceeeaeereeeeaes deceeeceeeeeeeeeeseeeeeeeeeeeeeseuseeaeseneeenees (C) ceceeccecccccceeceeceeceeececeeeeceesaeceaeeaeesseeeees bene ece eee ececdececencteceeeeeeedertecessenenes B. FINANCIAL 1. Foreign Exchange Rate Applied: Cedis/US$ oo e.ecee cece cecceceeeeceeeceee eee ee cece a nnaee 2. (a) Total Mineral produced (MT/carat/oz) cece ete aces eeteeceueeeseecseecaeesaeetsaetenes (b) Total Minerals sold (MT/carat/oz) cece ce ce cecuecececaeesecseeeeeseeeetaetsenesenees 3. Gross Mineral Sales (US$) eee eeceeeeeeeseeceeeeseesenseneesesseseeeaeens® FC (US$) LC(Cedis)* Total US$) 4. Capital Expenditure seteeaeeeeedeceeueeee oo beeeabereeaeeeeaee oo Geeeessaateseeeneeeens <!-- page 45 --> 45 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 5. Capital Expenditure Details: (a) Buildings hececceuccuctavcceeess Geeeeseseeseecseeee oo seaeeeeeesectensersees (b) Office Furniture & Equipment ...........2.0 ceescecceceeeseenee seteeeeseeesssseeeeees (c) Roads bedeeetecesesseeeeeee caeeeeceensessssetee Gaaseeteeeeetenaetees (d) Utilities Infrasctructure (Plant, Equipment, Civil Works, etc): (i) Power Leceeeeeeeeeeeeeeee 0 ecdeeeeeeeeeeeeeeeeess oo Gaeeeeeeeeeeeneeseeets . (iii) COMMUNICATION 0.0... eeteteeeeeeeceeeeneee oo ceeeeeeageeeeeeeeenenea (e) Mining Equipment sedcaeaceeceseesnns sanaeeeeeeeeesennnee Saaeeeeeeseeseneeeeeeeess (f) Processing Plant & Equipment .......... 0 ceeeeeeceeeeeeesscseee ceeeeeeeeseeeensteneerens (g) Others hececseeceesseees dgeeeeneeeseneceeeeeeee oo ceeeeensaeeesseecsaueeced FC(US$) LC(Cedis) Total (USS) 6. Cash operating expenditure (excluding depreciation, loan interest& taxes) becustuecuces ceaseaseceeeses teeeeeeeees Operating Cost Details: (a) Salaries and Wages deteeeeeeeees ceteneeeeeeeeee seeeeeeeeeaees (b) Contract Services bececeeeeeeee Gaaeeeeeeneaeee oo seeaaeeeeeeeed (c) Consumables (Chemicals, Cement etc) cedeeeeeeeeee seeeessnnnacees teeeeeeeseaee (d) Medical seceseeeeeeee Geeteueeceeceee oo deseaeeeeeeeees (e) Fuel (Diesel, Petrol, ..........) ceceseeeeeeee Geeeeeeeeeaeee oo seeeeauereeaes (f) Utilities (Water, Electricity, Telecom) beveseeeeetee taesteeeeeeeees oo seeeneeaeees (g) Crop Compensation steeseeennes sueeeeneegeneee seecateeseessnes (i) FC - Foreign Component (j) LC-Local Component - FC(US$) LC(Cedis) Total (US$) 7. Total Loan Interest Paid kicceeeeeeee Gdeeeeeaaeeeee oo ceeeeeaeeeeaees 8. Dividends paid lL deeeeaeeee Seeeeaeeeeeeeee teeeeeaeeeeeaees 9. New Equity (excluding retained earnings) keceeteeeaee Gdeeeeeaeeeeee oo caveeeeaneeeees Payable Paid 10. Royalties (¢) Secececeeeseecesesss saueeeesesssepeceeeeseees 11. Corporate Tax (¢) hecedeeceeeeeeee 0D teseaeseceeeeaneeeeneeees <!-- page 46 --> LI. 2173 46 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 12. Import Duties/Levies (¢): (a) Customs Duty deceneeeeeeeencenceecaeeeeeaecceseeeeseeeeseaees (b) Customs Processing Fee ce cneeceeecteccaceceeeececeeeeeaeeecereeneeeasees (c) Concessionary Levy (5% on Imports) deca becneceesccueeedeccaeseuecceueeeeseeeecaenes (d) Export Dev. Levy beeeeaceecueececsaeeceeececeneeeeeecessueeeenaes (e) ECOWAS levy duces eccucececeuseseeeesescesucsseeseeeeaserans (f) National Reconstruction Levy (2.5%) besa eteaeeeeecenececesceaeeenesseteraeseceesagees (g) Others (Specify) cececeeeecaececsaececeaeeeeueeeeaueeseaereeges 13. Contributions to Mining Communities (Specify US$ or¢) - (a) Alternative (Economic) Livelihood Projects .............cccccccceeseeetetsseeeeeeeeees (b) Water Project 200.00... ceeeeeseeeees (C) School Project.........e eee (d) Electricity Project ............:c0-. (€) Amy other... eesceeeeeeees *Contributions to Mining Communities that go to enhance the economic development of the Communities even after mine closure. (Please provide brief(s) on various projects) 14. Loans Secured: (a) Outstanding Old Loans (Please name lender): , Lender 1 Lender 2 Lender 3 ( ) ( ) ( ) (i) Original Loan Amount (US$) oe eee beseeceeeaeees (ii) Initial moratorium on principal (yr)... eeeeeeeeeee deeteesseeees (iii) Interestrate(% perannumM) —........ eee ceeee ee eeeeees beceeaeeeeees (iv) Outstanding amount to be repaid as ; year end (US$) seeeeaeceeesenee 0 seaaeseeeanens beseteseeseee (v) Outstanding repayment period (yr.).........::065 cesses beseeeeeenens (vi) Principalrepayment (US$) —............. seeeeeeagerees becteeeeteees (vii) Interest payment (US$) beseveeeeteeees beseeeeseneees beveeeeeeeees (viii) Total amount drawn down in Reporting year (US$) beteetaaaeeeees ceceeeaeeeeeeees veseeenaeee (b) New Loans Contracted in year (Please name lender): Lender 1 Lender 2 Lender 3 @ Loanamount(US$/¢) vetteetenaeees veveeeeeaseees bevveeeeeeetes (ii) Interestrate(% perannum) _.............. ceeceeeaseeens beeeeeteeeeees (iit) Interest payment (US$) beceeeeeeteees seseeeeeeetees benteeeneeeee (iv) Moratorium on principal beteeeeceseees ceseeeeeeanees beceeeeeeeeees (v) Repayment period (years) deseeceeaenees seseeeeneeeees beceteeeeeeees (vi) Principal payment (US$) setteeeeeeeess veeteceeeaaees beseeeeeeanaes (vil) Total Loans drawn down (US$).............. seveesseeeeees busteeeeeeenes <!-- page 47 --> 47 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 15. Personnel Costs/Contributions: Ghanaians Expatriates (a) Employee Gross Earnings bese ecaseeeeceueeaseeuas veceeeeeaeeeeeenaes (b) Employers Social Security (12.5%) ........cccceeeeceeeeees cecaeeeneeeaseeues (c) Employee Pay As You Earn (PAYE) ..........0ccccccs ceeeeeeeeeeeeee eee ‘. (d) Cost of Training cee ecaeceecaecesceecaeens ke seeeeeeeeceeeaees (e) Other (Specify) beceeececeeeeeeceneeeens beceaeeceeeeeaeees 16. Foreign Exchange Retention Level (%) bedeeceeueeeecensageeeeseeaaereeeeea 17. Actual foreign Exchange brought into the country (US$) (a) Through Bank of Ghana beseeeaaeeeeeeaaeeeeneees (b) Through rest of Banking System ceceeceeeceeeceseuseeeees 18. Any Hedging: Yes/No (cancel as appropriate) (If yes please attach a brief specifying type, Magnitude of output Hedged and Terms of Contract). 19. Please submit Annual Audited Accounts as soon as available. <!-- page 48 --> LI. 2173 48 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 C. TECHNICAL 1. RESERVE POSITION: . Tonnage Grade Contained saleable (metric tannes) |(oz, carat, ..../}Minerals (oz, carat, tonne of each sale-|tonnes...... of each sale- ~ | able mineral) able mineral) Proven OreReseves ft Probable Ore Reserves | | | | TotatReserve | | | Measured Mineral Resources| | | Indicated Mineral Resource*| || Ieres Mineat Reowee | | | [faiteowees *According to JORC (Australasian Joint Ore Reserves Code for Exploration Results, Mineral Resources and Ore Reserves). 2. PROJECTED MINERAL(S) OUTPUT (FOR REPORTING YEAR + 1)........ 3. MINING SUMMARY . i. Type of Mining (Underground/Surface) ceecceneereesMasasececeeeaeeneenenaeretens ii. Contract/Owner Mining (circle appropriate) - Name of contractor (if applicable)... iii. Type of Ore Mined. <!-- page 49 --> 49 L.I. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Tonnage (t.m°) Grade (g/t. g/m?) Oxides becteeeaeeeeeecueeeu tena eeene veceeeceeceueeeneceaeceueeeaeeeen eee Sulphides beceeececeeneaaaeneeeeeseees ceceeececaateecueeecaeeeeaeeeeeea eres Conglomerate ...........eeeeeeeeeee teens bee eeaeecaeeeeeeenuseneeeeeeeueeens Alluvial bese eeeeeeneeeeeeeneeeaeees cece eceeeeeeeeeeeseaeceeeeeneeseetes Others eens eee ece eee eeceeeeeeedesnecneseneeeae iv. Average Grade Lec ececeeceeeceeeceseceeeeeeeeneeeneeens vy Waste Mined (t.m*) bevuaeeeeaseeceeceeeasceeueeeeageeeeeees vi. Pit Dewatching (m’) bee ee eee eeceeteueeeceaaueeeebensaneenea vii. Dilution Factor heceeeeceneesccueeeeeaeeccuereeaneesaees viii. Stripping Ratio keccaceceeseeeeueeeeaeeeseeeeaaesetneees ix. Equipment (List All) Type Number Capacity Ownership (Company or Contractor) x. Processing and Metallurgical Returns Method Gold Won (troy 02) Silver Won (troy 02) Total beceeeneneeceeeeneeceseseane cea eeceeceeeeeaeeneeeseeasanes <!-- page 50 --> L.I. 2173 50 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Month Cummulative (month to date) Ore to Treatment Plant (t.m*) vedeceseentanceeeee ceeeesaeneeeeeeteetsntetecesseeenataes Quantity of Ore Treated (t. m*) veccdneeeeeseeesecceee seecegeeecsutseeeeeeeeeeeeerserteneees Head Grade (g/t, g/m’) cccuccuccaeceuceauceeeea dugeueeueeeeeenessecsetseeeueeaeeneteues (R +r) Grade (g/t, g/m?) Leccuuececeeeeeseeeeeeea saseeeeseeeeeneeeeeetenesesaeeseaaeees Tailings grade (g/t, g/m*) bec beeeeeeecteaeeeseees deteeaaeeeeeaeeeseesaeseseenneneeasna es Total Gold won (troy ozs) voce ecee bees eeeaeeeeees Gaetaeeeeseeeeeeteseseceneeuesseetaeegaes By-Products recovered (specify) .....cecccccsceseesssee ceeeeesseceeeeseeeeeeeeeeeeaeeaeenedennees xi. Mine Development a. Surface Mining , - Cutbacks - Ramp Construction/Extension - Road Construction - Drilling - Other Infrastructure b. Underground Mining - Drives - Stopes - Raises - Cross-cuts - Winzes - Shafts - Drilling - Others : <!-- page 51 --> 51 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 ° (xii). Consumable Details Item Country |Quantity|]Unit of Price/| Value | of Origin | Consumed | Measure | Unit m= | | | |. | List types Ca Diesel CT CCC [Lubricants | CCE CCU [Lime CTC Cd PFiocaalants J ||) i rd [CausticSoda [CCC Cd CC PAntisealant ||] |_| __|___ fActivatedCarbon [TCT Cd peti off fanatical Lf ; SodiumCyanide [| CT CCC CC [SodaAsh | CT Cd CC fiyaeogenPerosde} | | | |__| [steelBals | S| CT jcement fT [Flotation Reagents | [| CT rcupel | Td [Copper Sulphate [TT [Crucible TC silica TCC (SulphuricAcid [TC a a a ee [Copper Sulphate [7 T [Xanthae [CTC [Promoter TSS8is [| dT [Nitric Acid and others [| Prux(Remisy [| | | |_|} Frother PO partly <!-- page 52 --> Li. 2173 | 52 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (xiii). Utilities Details: a. Electricity Price/Unit | Consumption | Power (kwh) (kwh) LC (GH?) b. Water Price/Unit Consumption Cost (Litres) FC (US$ | LC (GH¢) ae ee ee c. Telecommunication <!-- page 53 --> 53 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 (xiv) ENVIRONMENTAL AND SOCIAL BRIEF Environmental Impact and Mitigation Measures Social Impact and Mitigation Measures Corporated Social Responsibility (CSR) Projects and their Value (US$) Occupational Health and Safety Issues (xv) MAJOR BREAK THROUGH DURING REPORTING YEAR (including Tech- nological innovation)* *You may use separate sheet if necessary. <!-- page 54 --> LI. 2173 54 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 D. LABOUR STATISTICS 1. MANPOWER TRAINING (GHANAITAN) Description of | Geology and | Mining Processing Supporting | Administra- Training | Survey Engineering | tion and Others Programme In-service train- ese | LT TTT LL ELLE Attachment training with other mine Formal study leave Other Schemes (specify type where appli- cable) *JNR - Junior Staff SNR - Senior Staff M-Male F - Female 2. STAFF RECRUITMENT AND TURNOVER (GHANAIAN) Description Geology and | Mining Processing | Supporting | Administra Survey Engineering | tion and Otherg | jp fe|M|e | Mlepale [vfe hae [Melle | ale fale | ecruitmene | | | | | titi itt | ttt tty | Retirement | | | | [| [TT ttt} | itt tit | p-Resenston fT TT TTT a sme TPP EEE <!-- page 55 --> 55 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 3. MANPOWER TRAINING (EXPATRIATE) Description of } Geology and } Mining Processing | Supporting | Administra- Training | Survey Engineering | tion and Others Programme In-service train- emer! TTT LLL ETE ELE LLL Attachment training with other mine Formal study leave Other Schemes (specify type where appli- cable) 4. STAFF RECRUITMENT AND TURNOVER (EXPATRIATE) Description Geology and | Mining Processing | Supporting | Administra Survey Engineering | tion and Other j recruitment | || tT ttTILT Litt | ttt t tt | Retirement [| [| | | | TE tt ttt t ttt tT tt [Reventon tT | Redundancy {| [| | | [TT TTT? ttt t t ttl eee <!-- page 56 --> L.I. 2173 56 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 5. MAJOR CONSTRAINTS DURING REPORTING YEAR: I HEREBY CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE Name oo... eeeeecccecseeeccceeneeeenaeeeeecensaeeres SiQMature: ...........cceecseceeeeseesetteees Tithe: oo ee cece cece ese eceseesegeceeen eens Date: ......cc ccc cecccecceeee cece eecsusee eens <!-- page 57 --> 57 Li. 2173 _ MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form Four Application Form to purchase and export, sell or dispose of minerals by a person other than holder of a mining lease (Regulation 4 (1)) APPLICATION FOR LICENCE TO DEAL IN GOLD ‘APPLICATION NO.: (PURCHASING, REFINERY, PROCESSING FACILITY) +d SECTION 1: APPLICANT’S IDENTIFICATION DATA NEW APPLICANT: C RENEWAL OF EXISTING LICENCE [| Are you applying for the first time? Have you previously held a similar Licence to Deal in Yes [| No [ ] Gold? Yes. J No [ } If Yes please provide the following information: Full Name of Applicant Date of Grant of Previous Licence: .......0..0:ccceeeeeeenees Registered Office of Applicant (Location Address) Duration: .0.0...:.cecccesesessesssesceeeeeceeseeeeeseenescecavevsneeeneesevaneeees Postal Address City/Town/Village Name under which previous Licence was ACQUIFEG: oe. ee cee ceecceececeeseeeeeeceeteeeeaseneaeeneees Region fixe’ Pheneine ia fica P. O. Box Facsimile # pplicant’ss lax Identification E-mail Address Number (TIN) Website Mobile Phone Line # Applicant’s VAT Identification Number SECTION 2: APPLICANT’S FINANCIAL DETAILS Full Name of Bankers and/or P.O. Box Facsimile # Financiers E-mail Address Postal Address Website City/Town/ Village Capital Invested or Region Proposed for Fixed Phone Line # Investment Source(s) of Funding <!-- page 58 --> LI. 2173 58 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 SECTION 3: OTHER DETAILS State specific proposed activity (ies) Proposed Project Site (where applicable) Whether applicant holds any licence or registration in the mining sector, and if so, state title. Whether Applicant holds any licence, registration or _per- mit from Ministries/ Department/ Agencies of Government of Ghana, and if so list them I declare that the information provided above is true and correct. I agree to abide and be bound by the terms, conditions and contractual provisions governing the operation of the ' license sought which I have received, read and understood. betteecetitesestessstteseesteeeeeieeee Dated. day of 20... Signature(s) or Seal as Appropriate CL] VAT Registration Certificate [| Receipt of Payment for Application Form (| Tax Clearance Certificate | Evidence of Payment of Prescribed Cl Business Plan Application Processing Fee (Receipt [| For existing companies, a Social Security and National Insurance Trust (SSNIT) Clearance Certificate is required. [| Summary of Annual Reports over the last three (3) years including audited accounts (if any). [| Registered Company - Certified True Copies of Certificate of Incorporation, Certifi- cate to Commence Business, and Company regulations. [| Evidence of Financial Capability: [| Bank Statement over the last six months/letter of support from the financier Submission Date veceerte ect cere Checked and Received by Submitted by Signature of Applicant/ Rep. Signature of Receiving Officer SECTION 4: DOCUMENTS SUBMITTED BY APPLICANT (OFFICIAL USE ONLY) <!-- page 59 --> 59 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 FORM FIVE Form of monthly returns of a person other than a holder of a mining lease (Regulation 4 (3)) MINERALS COMMISSION MONTHLY RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (a) Licence Registration Code Number......... . Month:.............. Year: wo. Minerals Commission —Monitoring and Evaluation Department Form MR: PELG—Monthly Report: Mineral Purchasing and Export Licence O F Received at: oo... eseeeeeeeeeeceeeeeeeeeeee c Authorising officer: .0.........ccceeeeeceeeeees I . A , L Report is confirmed complete:..............4 5 Reviewing Officer: 0.0... eeeeeees E Note to the preparer: On this form report only matters pertinent to the registration code number reported above. Use a separate reporting form for each registered mineral purchasing and export licence (combined reports are not permissible). <!-- page 60 --> LI. 2173 60 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 A. COMPANY DETAILS | 1. Name of Company ..........eeeceeccceeeeeeesesseeeeeeeeeeMlineral(S).... ccc cecceeeeeeseecseteeeeees 2. Registered Address: 20.00... ccccccccccccessesseceeceeaaeeecceaaenesceeeeeseeseeeseeesaueeeeseeeceeenea 3. Postal Address sscuesssissssssisessssussssstiseesssussssssesssssessasusesssiesssssiusssssessssivessssseee | 4. Name of Mine 00.0... eeee DIStHICE ieee LOCAHION Lee DS. Camp Site oo. eee cecccccccccsceeaneanaaasaaeeseseeeceeseneuenesseeececcecececeseceaaaaeeeeseeeeees 6. FAX coeceecceccceeseeseeeetteesesteeeestcesess WWEDSHLG oo ccc ceeeceereeeenageeereteeeeeeeeenes 7. E-mail oo. eee eeeceeeeeeeeessrereeeeeee Lelephone .............:00--- Cell Phone.............. 8. Name of Parent Company and Address (if amy) ...........cccsscccesssceeesscceeessneeeeseeeess <!-- page 61 --> 61 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (a) OS 1. COMPANY DIRECTOR Name of Directors Nationality (A) ceceeeceeeeeceeeeceeeceeeesseeeseneeeeees beceecaeeceteeceeceeeceececseeeecenseneaes (DB) ceececeeseeesereseeeeceeeseeesereesees bescueeeseseseeeeecseseeseecseseeeeensess (€) eceeeccceececeeeteeecescesaeeeeeeseneees becaeccuueeeceescceeeeeceeececeueeenees 2. COMPANY SHAREHOLDING Name of Shareholder Nationality % Shareholding (A) eceeecceceeeeceecereeeereceseaeeees 0 besten eeeseseesaaeeraeeees be cecaeeeeeeeeauecaeeceseteeeceeseees (C) eccceeccccceseecceeseeceeneessnaees sesteneeseneeesensenseeees be ceceeeeeeneecaeeeecneeaeeeeseeeneee 3. DIRECTORS OF PARENT COMPANY Name of Director Nationality (A) ceeeeeeseeseeeeeseeseeeeteeseseesereeenes bec eeenecaeeeeeeeececuesaeeessseeneneetes (C) eececeeeeceeeceeteeeeeseeeeeeeeeeeee nena Lecce bcuseueeeeeeeeeeseeseceeneeeeeeeneees <!-- page 62 --> LI. 2173 62 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 “t . MINERALS COMMISSION MONTHLY RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (a) 4. KEY SHAREHOLDERS OF PARENT COMPANY Name of Shareholder Nationality % Shareholding (A) ceccsccccccceesssscecceeeessensnne oo seeeeceereeeeeeeeeeseneess veseceecaeaeeececeeaaeneeeneaneseeeea (OC) eeceececceceteneeeeeeereaueeeteeees 0 beeeesaaeeeeeseaeeesensaes becca cece seceeecae nese eeneeean engage B. MINERAL (Specify) PURCHASES Quantity (troy oz, carat) etc bec eceeeecaeeeeaeeecteeeeeaaeeesaeseesaneeneages Assay Value (carat, finesse, value) boca eeceeceneseeeeeecnaeeseeceeeeaeeceeeseeuess Total Cost (GH¢ ) beceeeceeeeeececeeccuseeaeeeaececueceaeeeenensans C. REFINERY RETURNS . Mineral ° becca eeeccceceeeeecaeceeeaeeceneresteasceeaarserseeseegess Assay Value (carat, finesse, value) bec eecaeecaeneeeceeceeeceeeceeeceeeaeeeeecseseueseeseeeeees Recovery (troy 0z, carat, mt.) Lecueceveeccceccuneceeececceaeceeuseeeeereeseateceeesenenen Quantity Sold (troy 02, carat, Mt)... cccee eee eee eteeeereee enter tees eteeetneeees By-products boc ecc ese eee eeeeeseeeeeseeceeeeeeeeedeegeestenteneetaeeneed Export Sales Proceeds (US$) ..........cccececcsceeee eee eecnnteeeeesenetnneeeeeeeesessneeeeeees Unit price (US$) vecececeeeuescecueececceseecescenseseeeeeecaueeeersenaesenes <!-- page 63 --> 63 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (a) D. PRODUCTION EXPENDITURE Average Monthly Foreign Exchange Rate Applied (Cedis/US$) .0..........ccceeeeeeetseeeeeees FC (US%) LC GH¢ i. Total Cash Cost seca eecueeteeeeaeeeeeeeaeetsees beceueeeaeecaeceneeeeeseeneeeaes ii. Total Cost cececaeeeeceeseeaueeeeaeecenees becca eeeeaaeeeeeceseesaueeesenees iii. Total Cost Details beeeeeeeeceeeeeseeeeeeeeeeneees beveeeeececaaeeeeeeeseeeuaaeneeees (a) Salaries and Wages (Gross) i. Local beceecceeeeeeeeeeeaeeeeeeaeseeee 0 ceeesuaeeseeesaaeeeseeseeaaeeeees ii. Foreign bec eeeceeteeeeeeeteeennecutees becca eee eeeeeaeesaeeeee seen eneeaes (b) Bank Interest Lecaeeeeueeteesaaeceaeceeeeeeeees becceeecueeeeeeeeeeeaeeeoeeeteeee (c) Royalty Payable (¢) Lecce etee eee eeseeceeseueecseees becca eecaeecaeeeeueeeneeeuseenanes (d) Royalty paid (¢)*** cetedeeeeseeeeeaeeeeaeeeaueeeees 0 deeesaueeeuaesereaaeecaneeeeaaenes (e) Corporate Tax seca eecseeecnsesaeenaecneeeneeees Le caeeecaceeeeeeaeeeeeeeeeneeaeres (f) Depreciation boca eeceeceanceceteneeeseeeneees be cceeeea scene eeaseeeaeesaaeeenaes (g) SSF by Employer ceccedeeeeseeeceeeecnaeeceueeeees 0 Geeeaancecnaeseseateseeeeeeensenes (h) Consumables cesaeecaeecaeeeaeeeueenereneeees beceeeececeneeeeaeesaeeeeeteeees (i) Utilities becceecceeeaueeceeceneeeeeeeneees becca eeceeseaecaueeneeetaeeenees Gj) Fuel becceeeeeecaeeeeeeeeeeeeeeeneees beceeeecceeeseceeeeueeeeaeetnaes (k) Maintenance Cost becca ceeeeceuseeeetenneeaeeeaees bocce ees eeeeaeceaeeeeeetaaeeeaaes *FC = Cost incurred in foreign currency for specific activities/cost item . **LC= cost incurred in local currency for specific activities/cost item ***Royalty Paid : attach copy of IRS receipts. . <!-- page 64 --> LI. 2173 64 | MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (a) E. MONTHLY SUMMARY LABOUR RETURNS Senior Junior Expatriate Ghanaian | Ghanaian Labour Senior Junior \ *Indicate the total number of people employed from the community: Male .o....eeceeeeeeeeeeee Female w...ccceccceeeeceeerseeeeereeees TOU] eeeeeeeeereeerees 1 HEREBY CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE. Name: .....ccccecccececcceeeseseseeseceeeeceesssseseseeeee OUQMACUTE! ooo. eee eeeereeeeee reer ee eeennes Designation: ..........:cccesceeeeeeseeeseeestteteee Datel eee eeec cere ere eeee eter tneetneeeeniees <!-- page 65 --> 65 =. Lj. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form of annual returns of a person other than a holder of a mining lease (Regulation 4(3)) MINERALS COMMISSION ANNUAL RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5(b) Licence Registration Code Number:.:......... YOAr! occ eeeeeeeeeeeee anes Minerals Commission —Monitoring and Evaluation Department , Form MR: PELG—Annual Report: Mineral Purchasing and Export Licence O F Recieved at: ........cceccecccccsceeeesseceeeseeeseeenersees F Cc Authorizing Offficer?......... cc eeceeessereeneeaes I A L . Report is confirmed complete:................... S E Reviewing Officer... cceeeesceseeeeseeneeeeeenees Note to the preparer: on this form report only matters pertinent to the registration code number reported above. Use a separate reporting form for each registered mineral purchasing and export licene (combined reports are not permissible). A. COMPANY DETAILS 1. Name of Company. ..............ceeccceceeeeceeseeeeeceteeeceseseecesseeee MMAGMOL a(S)... cece cece eceseeeeeeeceaeecnenes 2. Registered AdGress............ccccccccccccecececessscceeeesseeeeeeeeseeeeseaeceeaaeescseceseaeeeceseteseescastesennaaeetseeesenaaeeonaaes 3. Postal Address... sees eect eeec eens neeneneeeneneeesenneerearenesarsesesensierasenseisesesiseeseestensissicceeetetetety 4, Name of Mine..............ccceeesceeeeeceeeeeeeeeee DOISOICE. cece eteeeeeeeeeeterereeee LOCATION... eee 5, Camp Site... ee cceccceccceccscceseesscssecereesecsccsecaeeasesaesaceaecsecesecaeceecaesaeececneeseeesecaeeeseseaessesaeesesesesteserssaetieeseees 6. FAX... ec cececceceeeneceneceeseeeeecerereseeseres WODSILC.... occ ceceeeeeceeecsececeeeceeesseescaceaaeetsecneeceserteeeteegesserseenaaeseesnee 7. Bema... cece cece eeeceeccseeereeeeeeeeeees DELOPRONE. oe eee eeeeceeerereeeteeeeee (CH PHONG... ee 8. Name of Parent Company and Address (if any).............c.cccecececessececceeeeeeeeeeeeseseeseaeeensasersaeeteeetsneeeearene <!-- page 66 --> LI. 2173 66 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 ANNUAL RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (8) 1. COMPANY DIRECTORS Name of Director Nationality CG) cecccccecccccecceesceseeeectseeneceeeneeseseeseenteneeeniesgs veveusaeecececensecseecceeeessseeecesenstineeeesevensnssaees (6) cevcccccccccesccssecscesecscesecssececcssesecnneeteeeecenense decacceeuaeevensececeusassedeneeceesuseeesiceeceeeneeeeet 2. COMPANY SHAREHOLDING Name of Shareholder Nationality % Shareholding CG) occecccccccccecccstecenseeesneneeees vbebuvdeteteceeettuetstestqesensecsnees 0 eeeedeeesestteeeseseeeeneseeeeeees (0) ececececccesceceeeteestetteeeteeenenaees vescesauecavsccesasesuecenssesseteeees 0 teaeeesuseseessaseeaeeneeseeeeeeees 3. DIRECTORS OF PARENT COMPANY Name of Director Nationality CG) occccceccccecsccecsscseeseessceeseceaeeaeerenesseneeaenes vececcunecuacevssvevaccesssesseeseaeeesaeeeteeserseteatenes (0) oocececcccececcccceseescusessessessccesceecsenseesenevnrens ecesuassssstaceceectacecersusecetsecesseseeeeseeetnaes <!-- page 67 --> 67 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON MINERAL PURCHASING AND " EXPORT COMPANIES ; FORM 5 (8) 4. KEY SHAREHOLDERS OF PARENT COMPANY Name of Shareholder Nationality % Shareholding CG) eececccesececseeeetetsteteesenerenese | sesaeaesseeesesenenenenaeaeeeneeeeneees eesuecaeeeseeeecenecseeeeeeeaceess (B) cecccsssssssevsvevevsssesssssessansininsie susnastssavinivanunsenscsessesessesesse seseeennenenetusssnsaneneneeeetny (0) ceccccecseceeesseeneeeneceaecerseteseees vevaeeeeacccenscecceesesesesneceesssee 0 deeeaseceneeseseeeseesensesaeenes <!-- page 68 --> L.I. 2173 68 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON MINERAL PURCHASING AND . EXPORT COMPANIES FORM 5() B. MINERAL (Specify) Purchases Quantity (troy oz. carat) etc. cece eeeecaeceecaeeeeueeeeeeeecaeeceuaaseeueneseaeeeeaes Assay Value (Carat, finesse, value) oo... eee eceeeeecseeeeeeeceeeeeteceeeeceneeereaaaeeeees Total Cost (GH¢) cece ceec eee te eeenaaeseaeeseasececuaresaeeeeeaaeeses C. REFINERY RETURNS Mineral sec eeceece een eeaeesecaecneeaesseeaeeeeceeenseeecnenans Assay Value (Carat, finesse, value) os. eeeeeeeeeeeeeeeccneeceeeececeuereeeneeeeeneeeeeaes Recovery (troy oz, carat, mt) secsevessasavsssuessssateususueatseseeseatavavesneeees By-products cecee ee eeeeetceaeaeeectaneneeeseeuaneeeeeeeeneeeeeened Export Sales Proceeds (US$) bec bceaeccecteeceeceeeceeseeseeaseasecaesseseneeneeaes Unit Price (US$) voecavecacecuccasectescesccscecscssseseecsceseteseese | <!-- page 69 --> 69 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (6) D. PRODUCTION EXPENDITURE Average Foreign Exchange Rate Applied (Cedis/US$) cedceeeseneeceeecceeeeeeseeeeeeeeeneeeeeneetene, . (US$) LCGH¢ i. Total Cash Cost besceeeeeteetneeeeseeenes ceceeeecaeeceneseeaeeceaaees ii. Total Cost beteceeeceaeetecuaeeeauees beceeaeeeeceoaeeeeeseaaeeees ili. Total Cost Details: (a) Salaries and Wages (Gross) i. Local beceeeeeeeeueeeenaeeeanees beceeeeceeeeeneeeeeueeesnees ii. Foreign beceeetececeeeteaeeeeenees becseeceneeeenue essa cesuees (b) Bank Interest | dee eee bere eeaesateaeeasens cea eeeeaeeneeeeeneeeecenens (c) Royalty Payable (¢) ens eetecetteeesceteuanses bocce eeceeeeeaeeereeeaaenees (d) Royalty Paid (¢)*** Leceeceeeaeeaeteeeeeeneees cedeceeeceeaeeneceeeeeeeeees (e) Corporate Tax beteceeeeeaeeeecuseesnaees Lecce eeeeeeceuueeeaeeenees () Depreciation, deccueteeeeneeeneeseeeeaes bec eeeaeeeaseeaeeeeeseeaeees (g) SSF by Employer beveeaeeeeeueeeeneeeeaaees beccaeeeeeeeeeaeeceaeeeuees (h) Consumables becca eecuecsceaeeeeeeaues besaeecaeeseteaeeeeertaetes (i) Utilities beceeeeeeeeeaeteeeetceeee ? bececeeceecatenseeeeneeenees @) Fuel beceeeeeeaeesesceeaeenaees beceeecaecnseeeeseceeeeeetes (k) Maintenance Cost bec eeeeesaetaeeceeneeeeees be decdeeteeaeeaeeceenteeeees TOTAL *FC = Cost incurred in foreign currency for specific activities/cost item **LC = Cost incurred in local currency for specific activities/cost item *** Royalty Paid: Attach copy of IRS receipts <!-- page 70 --> L.I. 2173 70 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON MINERAL PURCHASING AND EXPORT COMPANIES FORM 5 (5) E. ANNUAL SUMMARY LABOUR RETURNS Expatriate |Ghanaian |Ghanaian Skilled | Unskilled | Local FF RSs wa Labour Senior Junior . *Indicate the total number of people employed from the community: YC ( Female... Total... eee IHEREBY CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE Name: ooo. ececceceecceeeeeeeeeceeeeseessereeeaeeeseeereessenseenasecee Signature 2.0.0.0... eee eee eee eteeeseeee Designation: ..........:ssescessseseeseeeerreseeressnsseenneseess Date? oo. ceeceececeeseeeeteeeeeeeeeseeseeeesenas <!-- page 71 --> 71 L.A. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form Six ‘ Application Form to purchase and export, sell or dispose of industrial minerals by a holder of a restricted mining lease (Regulation 6(2)) APPLICATION FOR LICENCE TO EXPORT, SELL OR APPLICATION NO.: DISPOSE OF INDUSTRIAL MINERALS BY A HOLDER [ti‘CséTOCO~*@*r OF A RESTRICTED MINING LEASE SECTION 1: APPLICANT’S IDENTIFICATION DATA NEW APPLICANT [] RENEWAL OF EXISTING LICENCE [7] Are you applying for the Have you previously held a similar Licence? Yes I. No () first time? Yes No Oo If Yes, please provide the following information: Date of Grant of Previous Licence:..........:::21scssseeseeneees Duration:........-scccccceeee Name under which Previous Licence was ACQUITEM:........cccceseesenccceeesceceeeeeneeres Full Name of Applicant Full Name of Mine Registered Office of Applicant (Location Address) Postal Address P.O. Box Facsimile # City/Town/ Village Email Address Region Website Fixed Phone Line # Mobile Phone Line # Applicant’s Tax Identification Applicant’s VAT Number (TIN) Identification Number SECTION 2: APPLICANT’S FINANCIAL DETAILS Full Name of Bankers and/or Financiers Postal Address P.O. Box Facsimile # City/Town/ Village Email Address Region Website Fixed Phone Line # I declare that the information provided above is true and correct. I agree to abide and be bound by the terms, conditions and contractual provisions governing the operation of the license sought which I have received, read and understood. ecseuseseeneneeceneseaecacseeneeaeseeaeeeeeesserentens Dated ............. Day of 0... 20. Signature(s) or Seal as Appropriate <!-- page 72 --> Li. 2173 72 MINERALS AND MINING (GENERAL) REGULATIONS, 201: SECTION 3: DOCUMENTS SUBMITTED BY APPLICANT (OFFICIAL USE ON (J Sales & Marketing §= Number of Contract (s) (Receipt of Payment for Contract (s) becececesecececeeaaceseeenaceees Application Form (J Particulars of the quantity and grade of (1 Evidence of Payment of industrial minerals to be shipped Prescribed Application Processing - Receipt #:.........c ee Submission Date Checked and vencecee Lee cece veeetaees Received by Submitted by Signature of Signature of Applicant/Rep. Receiving Officer <!-- page 73 --> 73 Lj. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form Seven FORM OF MONTHLY RETURNS OF THE HOLDER OF A LICENCE TO EXPORT, SELL OR DISPOSE INDUSTRIAL MINERALS (Regulation 6(6)) MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(a) Licence Registration Code Number: ............... Month: ...........6.0008 Minerals Commission —Monitoring and Evaluation Department Form MR: PELG—Monthly Report: Production and Export of Industrial Minerals O : . F Recieved at: ......seccseseeeesetteeeeeseteeeeaeeaees c Authorizing Officer: 0.0... eeecseeseeseeeneeenes i Report is confirmed complete:...............4 U . S Reviewing Officer?.........cceeccceettteseeesenneteees E Note to the preparer: on this form report only matters pertinent to the registration codé number reported above. Use a separate reporting form for each licenced mine (combined reports are not permissible). A. COMPANY DETAILS 1, Name of Company........0....0:ccccccccseeseeceeeceeeceeeceeseeeeeeensseress Mine ral(S).. cece cee ceseeetsneerreecenaeees 2. Registered Address..............ccccccccccceceeecceeeseeeceseeecteccecensneeeeseeeeecesaaeeceasaeecensaeeeesssaeetsnaeeeesesneersnseeseneeeens 3. Postal Adress... oe. ceeccceeecceeeecesecceneeceseecesecteaeeceneceeeeessseecsnecesesenaesereneeesuaeecsesenseepsbeessieeeesetesnaesenaees 4. Name of Mine. ...00......0000cce cece eee erect DISMICE eee ee reer OCAHON. eee 5. Camp Site... cece ceceecccscenccescncceseeseceeeecesecaeesececseesseceesseesscateaeceseeatceeceaecsteesneesessatersrasesteverceeseeseteneeees 6. FAK ees ceeeesee ees teeeeeesesnessecer esses: WEDS. cece sees eeeciee canteen ica rteses cen setecenssttiearacsassetianeas 7. Bemaile.. sce ceceeeeeeceeeececeecereeeeseee DOLEPMONE. oe ceeeeeseeetereeereeereeeee Cell Phone... ee 8. Name of Parent Company and Address (if any)........2-.....ccccccceceseeeceeeneecesnenneteestaceeeseaeeeeneneeersenregerennes <!-- page 74 --> LI. 2173 74 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(a) 1. COMPANY DIRECTORS Name of Director Nationality CG) oaeeceecceecceseceetseceseceeceseenecenesteeesaesestenesaees daseeesceeeaeecteeeseceeseerececeseeeeeeenseenarcestersaes CC) eccececesececceectenseeeecececseeeseeeneseennenaeteeaees ce seeeseeenscecaeeeeaeeeseseceecceeeeeesesseeenetseeenes 2. COMPANY SHAREHOLDING Name of Shareholder Nationality % Shareholding (A) oeeecccccccccccesesteceetseeeeeentceeeeees ca ceecesesceaseesaceeeestscecsesecetse 0 eeenecaeesseessceeaeeaeenseeaeenes C0) ececccesecscesccestecseeeseseneeenneenes desesasesceeeeesuseusseeaeeeecsaeeeas ceetaceseeaeeateaeenatecevaneneeaee 3. DIRECTORS OF PARENT COMPANY | Name of Director Nationality CG) coeccecccccceccceeeeccseceseeensecussecteecnaeessneentneeaaes des aeeeesaeeeeeaneeceeeeeestnaeeesennesenecneeeesieeenaees (0) cescecesvesesvsstestecesnssessessssesesecsesessrsseseesessees baseeeeusaneeceesuecccssaeeeesaceeenaeeetenceeestaaeensaness <!-- page 75 --> 1 LJ. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF ee INDUSTRIAL MINERALS FORM 7(a) 4. KEY SHAREHOLDERS OF PARENT COMPANY Name of Shareholder Nationality % Shareholding (vere te eee eeteneeteetieetees destenneneeenenteaeeateneenessesneatens weeeeaebesseetesecnentesennenteners B) crrrrrensentnnnneiniins —snannainninneteinnintis —sinainnnntenniie (0) iecceececcecetsecteceesteseteetneneeas seaceeeneececeessseeseteeeeceettaeeees secececeesseeatecenteaceenteeaetens <!-- page 76 --> Li. 2173 76 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(a) B. _MINERAL (Specify) PRODUCED . Quantity (MT) sesevevavacsenesavscessavavassesscavevaceceseavataseees Grade aceeecsuaceeeeseeeeceeeaneceeseateeeenaeeertaaeeceeees Total Value (GH¢) decueeeeseseeeeseeseeecsencunceennesusaeaeeeeteceenens C. MINERAL EXPORTED Quantity (MT) ve ceceeeeuaeeecseneeeessnececcsrectsseeeesenarsersaas Sales price at the time of export (US$/MT) besseeeceeeceesesssaneeteceeeeeeenens Total Sales Price (US$) badeeseeeseeeesestansesessnstsnsaeaecsecsesesseseeees Country of Destination seteeeceneaeeetessacecenenaeeceeseesonaeeessuateesenes (Attach copies of CEPS Declaration forms, Airway Bill and Bank of Ghana Exchange Control From 4A for each shipment) D. SALES RETURNS Quantity (MT) secctsavavacecucesesscetettsesesestsnevsueesesestenete 0g Grade besecaceceeessecseaeaeeeecesentaneeesenensenetereereres Export Proceeds (US$) 8 deseeeseeseseeseeseeseseseeesseteeeeeteeteeaeseeseaees (Attach Certified Copies of Sales Returns) <!-- page 77 --> 77 . L.A. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(a) E. PRODUCTION EXPENDIUTRE Average Monthly Foreign Exchange Rate Applied (Cedis/US$) .....0......ccceseceseseeteneeeteees FC (US$) -LCGHe i. Total Cash Cost seeeeeenesenesseneasseneneeeens cecceeeeteeseenaeeeneeeeaues ii. Total Cost becceteeeesesnceeterenteesneees secceeeeeeeeceseeeceeeeceues ili. Total Cost Details: oe eeeeneeeeee ceceeeeeeeeeceaeeceteeeeers (a) Salaries and Wages (Gross). i. Local becaveceeteceeeaeeeeneeens cecedecacueceeeeeeceeeeceens ii. Foreign ee beeee sets neteneteeeees ceeeeeeceeeeeeeeeeeeeeeeeens (b) Bank Interest cecseeeeeneteeeeeeseeeeees seeececceesenseeeeeaeeeeues (c) Royalty Payable (¢) ceecaeecseceseuscseeeeees becaeeecseeeeassecseeeenens (d) Royalty Paid (¢)*** bec ceeteaeeceseneeeeetenes ceceeeeesceeseeueeteeeeueees (e) Corporate Tax cecescuecaensectecsceesees ce deceeesteasecteeeeenecsees () Depreciation beccaaeeeeceseeeasersesers seca eecaeeecececeeenecteees @ SSF by Employer ceccaeeeeceeeeeeeteesees cecaceecuseeceseseeenreseees (4) Consumables becesecaseceusedeesecenees cedseeaeeceeeeteceneeeeerees (i) Utilities bec caeeceueceeeceeeneeeaes cecavecaeeeeeeeeeeeneeeeeees G) Fuel beeceeeseeeceeeeteeaeeeaes ben deceaeceeeceeeeteeeetes (k) Maintenance Cost bes caeeeeecsueeceeeaeeenes ceseeeeaeeeeeeeeeqereeatees TOTAL . *FC = Cost incurred in foreign currency for specific activities/cost item **LC = Cost incurred in local currency for specific activities/cost item *** Royalty Paid: Attach copy of IRS receipts <!-- page 78 --> LI. 2173 78 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION MONTHLY RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(a) F. ANNUAL SUMMARY LABOUR RETURNS Pr Ree “| F Senior .} Junior Contractors Labour } Labour } Casual } Total Labour Senior Junior *Indicate the total number of people employed from the community: Male... eee eeeeeeeeneereeee Female...........0.:::: cee Total... cee IHEREBY CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE Name? oo... eee ceeeseesenecsersaceaeecesaceaeeeeseceeeneaneeateas SIQMAtUTe 20. eee cee eeeeneeeeeee Designation: ...........cceceeescceececceeceereseeeesceaceneeeeereas Date: oo... eeeeceeeeeeeccetecneeeeeeeeeeeenees <!-- page 79 --> 79 Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form of annual returns of the holder of licence to export, sell or dispose of industrial minerals (Regulation 6 (6)) MINERALS COMMISSION ANNUAL RETURNS ON PRODUCTION AND EXPORT OF ‘\. INDUSTRIAL MINERALS FORM 7(6) Licence Registration Code Number: .......... YOAT: oo. ceeeeeeeeees Minerals Commission —Monitoring and Evaluation Department Form MR: PELG—Annual Report: Production and Export of Industrial Minerals O . F Recieved ati oo... ccc seessceecneseseseetetereeeeees C Authorizi I uthorizing Officer:.............c:ceeeseeereeeeteee A Report is confirmed complete:................... U S Reviewing Off ce? ......... se eeceeeseesceeseeeneetesees E Note to the preparer: on this form report only matters pertinent to the registration code number reported above. Use a separate reporting form for each licenced mined (combined reports are not permissible). A. COMPANY DETAILS 1. Name of Company..........0.ccccccceccecsseecesceeetecceteceereestereseecerseesMEimeTal(S). 000 cccceeeeeceseeeeeeseeeeeennes 2. Registered Address... eeeeseseeeeseeessecesecesreessscessenseeseresensasessateeessessceseeeeeeecsseseeeseeeecssaeseseneeeeanes 3. Postal Address... icc eee cecceesecceee cents cneeccceeecneecneeeeseeeenseeesaeecseeeeneeeeeseseeseseeeneseeeisesessueceeeensesenaees® 4. Name of Mine............0ccceeccceeseeereeeeeeeeeeee DISUICE Lecce cece cere reeeeereee OCAHON. ec eeeereee 5. Camp Site... cceeccccceceeccesscesesseeeecescesecseececeaecessessecnaceeceaseecseesaeeesseeecsesnaceseensseseesevsereasenassssstereseceesenes 6. FAX. ccc cece eect ceeeeeeeeeeeeeeeee WEDSHEC. ccc eect e etre eeersaeecnaeeseneeeereeeseaseseneasesseeernaseniees® TF. Eemaile...cccccccceceeceeecceeeececeseeereeeees PELCPRONE. 0. cceeceeereeeeseesteeeeereerere Cll PHONE. eee 8. Name of Parent Company and Address (if amy)..............cccceeeececceeseecceeeeeereterenseeeeeseeesectsaaeeeenneretsnnsees <!-- page 80 --> Li. 2173 80 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION . ANNUAL RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(6) a 1. COMPANY DIRECTORS Name of Director Nationality CG) veccecccccceeseteeceteesesetecaneecsteantecaeeenseneeseeeetee vesesccaecesseccaeenseeceseseeseeeeaeetaneseeeeseeeteses () cvssescsssssvvssvssssssscessssnvesesssensecnsnnsecnine teuunennneseeseutuansssseesennnssesosoneencnnansnseenes 0) cocccccccnecceteescteneeseesceseseseseseessnssseeesseneaeies devecevsceesseceaseeeaeeneeecaeeteneesseessseeeaeessecaas 2. COMPANY SHAREHOLDING Name of Shareholder Nationality % Shareholding (GD) ceeececeeececte cee teseeneeeneceeseseeees veceeesscecseccssseesscecseecneeerecees 0 seaseaseneenseseseeeeeneeneneaeee? () cecscvccccvvsvessssssssssssssssssveceese snnsssceesesuuiunansnsssesesecuetuiniysasseeenuasnnnennnneeeesennetes (0) ceeecescccceccseserseensenssnsesseesenees cesaceeececessesecseeceeeeeretseneeees da seeaceeseeaeeteneeseeesereeenes 3. DIRECTORS OF PARENT COMPANY Name of Director Nationality (A) occccecceceececceeseecenseeeene testes cnseeeseeesensensesees cecceveneeceeseececeaeececseseeeeeeseetineeeseisesestaeestea (A) sccvcssssvscsssvssevssassssssssesvesssseessnnssecesnint 0 sneseeeetenueeesteniussessssesensseneenenetinineannnenset CC) oecceccccceccceteee senses etetseaecsessnecsenenseaeereaeneney vuseusceseceseeaseeseesseeeesaeteseeneetsaeesensesesseneees <!-- page 81 --> 81 L.I. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(6) 4. KEY SHAREHOLDERS OF PARENT COMPANY Name of Shareholder Nationality % Shareholding CG) co eeececcccecsececesneeeeteseeeeetee 0 tenaeeessseeeesseeseesaaeerseneeeenen dense ceseeeesseeeseeseaaeseasecsaes (A) veccecsscscssscesssssseesssscsessecsessess sesseseassvcesasietessecsessessssiessn seeeessnasseeeestsieteecenseneness C0) eee cece cette eetteteteeeeteeteeenetens ceceeneeeeneceeeeesensescaeeseaeensas dascceceecssensecuseesseenseenaeees <!-- page 82 --> Lj. 2173 82 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7() B. MINERAL (Specify) PRODUCED Quantity (MT) beccceeececeeeessueaaeseneeeeceeeeseaaueaesaneeseneees Grade cee cceeececeeceaeaeeeeeeeeeeeeteecaeaeaneneetersenetes Total Value (GH¢) sec aceeeececeunneecesesseeneeaeeeeeseesnieseereneias C. MINERAL EXPORTED Quantity (MT) cece ceeeececeeceesaasaeeecteececeeeecaauaanneeentnecess Grade becedeeeeeeeceeeeceeeeesaaeseeeeeteceeeeesseaeeuean ease Average Sales price at the time of export (US$/MT) .....cecccececetseeettetere teeters Total Sales Price (US$) Seceaeeceeecenaeeeeceeseeeeeteeteeetentsaeeeseennees Country (s) of Destination cececceceeccceceseaeaasseeeeceececenaeuaaeaeeeteneetes D. SALES RETURNS Quantity (MT) secesuteessereseseceeeeerestsacecensatsesaceeeseesees Grade bocce cceeeceeeeasaeseeceeeeeeeeeeeeaeeeteneeeeeeeates Export Proceeds (US$) bocce eee tea aaaneaaeacaeeaeaeeeeascaeeeeeeeeeeeeees <!-- page 83 --> 83 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(6) D. PRODUCTION EXPENDIUTRE Average Foreign Exchange Rate Applied (Cedis/USS$) ..........ccccccetcteteteteenttcttieen (US$) LCGH¢ i. Total Cash Cost ceceeeceeeeesueaeeteeeeees bees cede eeeeeeaeeeeeeeeetes ii. Total Cost bebeeecaeaeeeeeeeaeeeeeeea beteeceeeeeeeeaaeeeeeeeaaees ili. Total Cost Details: (a) Salaries and Wages (Gross) i. Local beeeeeceaaeeeeeeseaeeeeees beveeecueeeeeeeaneeeeeeauees uu. Foreign becaeeca seca eeeeeeueeeues bec eeeeeeeeeeeeeeeeertta eres (b) Bank Interest ce eceeeeeeneeeeeeeeeteeees beeen eeee ese eaeeeeeetenenee (c) Royalty Payable (¢) ces beeeeeeeaeeeueeeeeeaues beceeceeecateeetetneetanees (d) Royalty Paid (¢)*** be ceeeeeeaeeeeereeeeeenees bes eeneeneeeeeeeeee eee ereees (e) Corporate Tax bec eeceecaeeneeeeeeseenees bec eeceeeeeeeneeeeeneteees () Depreciation beceeecueesueeeteeeaeeeaes beet eeeeeeaeeeaeeseeeeenees (g) SSF by Employer beccaeeeeceeeeceneeeaaers bocce veeeueeeteeeeteneeeees (4) Consumables cee ecateceeceeeeeeeeeeeees bec eeceeeeesteeeerneenteneee (i) Utilities cee eeaeeneeceeeeceeeneens bec eeceeceeeeeeeeeaeeeteeses @) Fuel ce eceeceeneceeneeeentanees beceeeeeeeeteeeaseneeeeeees (k) Maintenance Cost bocce eeaeceeeteeeeeneas bee beceeteeeeeaeeeceneenees TOTAL *FC = Cost incurred in foreign currency for specific activities/cost item **LC = Cost incurred in local currency for specific activities/cost item *** Royalty Paid: Attach copy of IRS receipts <!-- page 84 --> LI. 2173 84 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MINERALS COMMISSION ANNUAL RETURNS ON PRODUCTION AND EXPORT OF INDUSTRIAL MINERALS FORM 7(6) F. ANNUAL SUMMARY LABOUR RETURNS , FPR “| F : Senior | Junior Contractors Labour | Labour | Casual | Total Labour Expatriate | Ghanaian] Ghanaian pom ee *Indicate the total number of people employed from the community: 1, Cr Femiale.............::eeeee Total... eee I HEREBY CERTIFY THAT THE INFORMATION AS PROVIDED ABOVE IS TRUE Name? oo... eeeeceeceeeseeseseeceeeeesssesesseesesseseseseeseasseseeeees SIQMACULe 2. eee eee cere ee teneeee Designation: ...............cccecceecccseseseeeeeeesseseteeseeeeaes Dat? ooooceeccssssessssssseesssssseeeseenssiesees <!-- page 85 --> 85 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 Form Eight Power of Attorney (Regulation 26) THIS POWER OF ATTORNEY is made this ..........day Of ... ee 20 Appointment . L, cccccccsssssssssseeescccccccccesscesceueesccesceccccecsuueessecceceeseessaaeseseeeeessesssssssssseeeeseeeee( Name) bdeeeeesesesecsnsseeeececeseesetsseseeeeeseesstssssatsesesecetessesssssssssseeees C(OCCUpation) of bee eaaaeceeeeecesesssuneceeeeeeecesessaaseeeeeeeesuseusesaaaaaaceeaeeeaceeseseeeeesenaeaeeteees (Address) (Hereinafter referred to as “THE PRINCIPAL”) hereby APPOINT..........000..---..Name veceesscevseeecseesssseessecesseessese(OCCUPATION) Of. ...cccccccecccccsseecsseceeseecessecesseeesteeeeseeeenee (AdreSS)....ccsceccesssecsseessseesseeseeste (TOL NO) cecccsseecstesstecsttessgeeeeneeee (E-mail) as my ATTORNEY for and on my behalf to do all or any of the acts and things following: = WHEREAS: A. The Principal(s) has submitted an application to Minerals Commission (MC) for the - . grant of a mineral right (hereinafter referred to as “the Right”) for the purpose of ’ (prospecting licence, reconnaissance licence, mining lease, etc.) (Depending on. Type of Mineral Right) a property more particularly described in the Schedule hereto (hereinafter refered to as “the Property”). B. (MC)is considering the Principal’s application. C. The Principal(s) is resident outside Ghana and/or may not be present in Ghana at all times during this process. D. The Principals) intends to a ppoint the Attorney to act on his/her behalf. E. The Attorney has accepted to act on behalf of the Principal. NOW THEREFORE the Attorney shall act on behalf of the Principal(s) as follows: Purpose 1. Perform all acts necessary for the grant of the application of the mineral right from MC and/or any of its authorized officers. 2. Torepresent my interest in all matters relating to the grant of the application of the mineral to the extent of it being used for (exploration, mining etc.) (DEPENDING ON TYPE OF MINERAL RIGHT) on the Property. 3. Generally to act as my Attorney in relation to all other matters concerning the grant of the application of the mineral to the extent of it being used for (exploration, mining etc.) (DEPENDING ON TYPE OF MINERAL RIGHT) on the Property and make all instruments and do all acts and things as fully and effectual in all respets as I could do if personnally present. <!-- page 86 --> LI. 2173 86 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 4. Tosignand execute on my behalf any contracts and instruments which are necessary for the exercise of the powers conferred herein. . 5. To, where necessary, bring or defend any action or other proceedings in respect of or * affecting my interest in respect of this power. Indemnity 6. hereby agree to indemnify my Attorney in respect of all expenses or liabilitties . _.__ incurred or covered by him in the resasonable and proper exercise of the powers contained herein. Ratification 7. Allacts done by the Attorney to the extent of this power shall be deemed ratified by me. Revocation 8. AND IHEREBY FURTHER DECLARE that this Power shall remain in force until expressly revoked by me, “THE PRINCIPAL”. IN WITNESS whereof THE PRINCIPAL hereto has set its hand and name the date and years first above written. SIGNED BY THE ATTORNEY, AGALOSS: 1... ccccccccccceccceeecceeeceeeeceeaeecseeeeeueesecaecsccnssceeeesaeeeaenseneeeeee ees AS51400 oo EEE EECESOOOOOOOOOSSOS SIGNED BY THE PRINCIPAL, ACAreSS: occ eeccccccccceccceeccceeeceeeeeeeseeeteeeecneeeeaeeceeeeeecueeeeaeesaeseeseeeeeneeeed SiQmature: ......ccccceceeceeeeeseeeeeeeeeneennencnneeeeeeesaesaeeesceeeeeaseeeeeeeeeeeeeoneeees In the presence of (Witness): Name? ooo cece cecccccceeececeeeeecceeeeceeaeeeeeeeaaeeceeeeececccuaeesesaseeeeseneeeeeeeeeeenel ACALESS: oe ceccccecccceecc cence eeececeeeecueceeeeeceneeseaeeceeeeeeaeeeeeneeeaeeeaneseee nese SUQMature: oo. eee ccc eeeeecee eee eeeessaaeeeseseeseseeeeeeeeeeeneneeseseasereneees BEFORE ME NOTARY PUBLIC SCHEDULE a, (DESCRIPTION OF PROPERTY) <!-- page 87 --> 87 Li. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012

SECOND SCHEDULE Percentage of expatriate staff to the total number of senior staff to be maintained by a holder of a reconnaissance licence or a prospecting . . licence ' (Regulation 1(7)(b)) A. EXPATRIATE PROPORTIONS: EXPLORA TION (RECONNAISSANCE AND PROSPECTING LICENCE HOLDERS) * Category Commence- After 2 After4 | After6 ment Years Years Years Unskilled ° . 0% 0% 0% Skilled | | | Labour 10% 0% 0% 0% Technical & Supervisory s% 5% 0% 0% ‘| Management (number of expa- Up to 2 Up to 2 Upto2 | Upto2 triates) <!-- page 88 --> MINERALS AND MINING (GENERAL) REGULATIONS, 2012 B. EXPATRIATE PROPORTIONS: PERSONS REGISTERED TO PROVIDE MINE SUPPORT SERVICES OR LICENCED TO EXPORT OR DEAL IN MINERALS (Regulation I (11)(b)) xpatri Expatriate Expatriate Regional | Expatriate] Expatriate Expatriat Expatriate | Expatriate Expatriat Caen Management per each per cach . office per all for per (wo . per cach per two per two, . nvestor | MARC* MARC VHS** | Workshops | active drill | mincrat || active drill | active drill contract with] contract with contracts J and training] rigs rights rigs rigs a a support holder service service Mine service jsvns tgimen [2 Te Te a Explosives and Chemical 3 2 sti |e [simi creconmmbis J? | | |} | |_| |] | Nydeautie services Te OT Or OC rt af rr Sa Lassay Laportoy J? sas TT ims. | | | [ft -f- 7] [- 7 Construction & Mine Infrastructure ime | TT TT t-te Equipment, Spare and parts Haulage of ore/waste pecan Oe Pooimnes [> Cd eae | TT TT TT oT Operations) ear [| tT tT TT for SSM (unerground 30 Operations) ;Conteac mining for (Surface Operations) 2 20 eee! > | | [-|-[-[-[- [= [| | large scale mines 30 {underground operations) *MARC refers to Maintenance and Repair Contract *VHS refers to Vendor Held Stock Contract ‘ For all other expatriates staff required for the execution of a project or a specific contract, the company shall submit staff requirement, desired qualifications and experience, estimated duration and justification for choice of expatriates for the positions for consideration and approval. ? Expatriates rquired to undertake short term contracts (up to 6 months) for installation and testing of equipment shall be considered on a case by case basis Up to a maximum of five expatriates will be considered where the company establishes a gold refinery in Ghana. “ ‘In any case not more than ten expatriates shall be engaged for the execution of the contract. ‘The total number of expatriates shall be 10% of the total number of Senior Staff after two (2) years of commencement of every new mining contract. However, renewed contracts shall not be considered as new contracts. ‘The total number of expatriates shall be 15% of the number of Senior Staff after two (2) years of commencement of every new mining contract. However, renewed contracts shall not be considered as new contracts. <!-- page 89 --> 89 LI. 2173 MINERALS AND MINING (GENERAL) REGULATIONS, 2012 MIKE ALLEN HAMMAH, M._P. Minister responsible for Mines . Date of Gazette notification: 20th March, 2012. Entry into force: