The Precious Minerals Marketind Company has allayed the fears of Ghanaians that the government gold-for-oil deal is a modification of the dubious Agyapa Royalties deal.
As per the Managing Director, Nana Akwasi Awuah, such cases are important for the various misinformation the deal has been loaded with and should be ignored.
Nana Akwasi expressed these on Adom FM's Dwaso Nsem with the admission that the deal broker, Alphastream was the very that taken care of the controversial Agyapa deal.
He, however, advised the way that the Agyapa deal failed doesn't mean the gold for oil will also fail, adding the first consignment of 40,000 tones which has come into Ghana prove they are on course.
"Alpha stream was the deal for Agyapa and has been brought for the oil for gold however they were proposed by the international oil company. This is a presumed company in UAE and they are simply taking care of their jobs and the way that they bombed the initial time doesn't mean they ought to overlay their hands," he defended.
The Gold for Oil (G4O) Program is an initiative of the Government of Ghana to use the existing Bank of Ghana (BoG) Domestic Gold Purchase (DGP) Programme to help the import of oil commodities into Ghana.
The sole goal is to use extra foreign exchange resources from the BoG's DGP program to provide foreign currency for the importation of petroleum products for the country which currently stands at about USD350 million per month.
Alpha stream, with primary investors in a UAE Sovereign Wealth Fund, brands itself as a multi-commodity royalty streaming company.
In the mean time, former President John Mahama has expressed that the deal is currently covered in complete mystery with just government authorities who are involved with the transaction knowing the subtleties.