PROCUREMENT OF CONSULTING SERVICES FOR VALUATION OF THE MINERAL RESOURCES OF THE GHANA CONSOLIDATED DIAMOND LIMITED (GCDL)
STATE INTERESTS AND GOVERNANCE AUTHORITY (SIGA)
NATIONAL COMPETITIVE TENDERING (NCT)
REQUEST FOR EXPRESSION OF INTEREST (EOI)
(ASSIGNMENT TITLE: PROCUREMENT OF CONSULTING SERVICES FOR VALUATION OF THE MINERAL RESOURCES OF THE GHANA CONSOLIDATED DIAMOND LIMITED (GCDL) REF. NO.:GR/SIGA/CS/005/2022
1.0 BACKGROUND
The Government of Ghana, in a bid to ensure the effective running, and where appropriate, profitable operations of State-Owned Enterprises (SOEs), Joint Venture Companies (JVCs) and Other State Entities, (collectively referred to as Specified Entities (SEs), established the State Interests and Governance Authority (SIGA) by passing the SIGA Act, 2019 (Act 990). Act 990 replaced the State Enterprises Commission (SEC) Act, 1987 (PNDCL 170) and the Divestiture of State Interests (Implementation) Act, 1993, (PNDCL 326).
The Act enjoins SIGA “to oversee and administer State interests in SEs and to provide for related matters”. It further instructs the Authority to:
- ensure that Specified Entities (SEs) adhere to good Corporate Governance practices (section 3 (b).
- develop a Code of Corporate Governance to guide and promote sound Corporate Governance practices in the Specified Entities (section 4 (d); and
- prepare and submit to the Minister, an annual assessment report on the governance and institutional performance of Specified Entities (section 4 (e).
SIGA therefore seeks to procure the services of a consulting firm to carry out a verification and valuation of the mineral resources (mine reserves and tailings) of GCDL to give a true and fair value.
2.0 OBJECTIVES
The objective of the assignment is to verify and value the mineral resources (mine reserves and tailings) of Ghana Consolidated Diamond Limited (GCDL), Akwatia.
- Identify and evaluate all existing gold and diamond tailings belonging to GCDL, Akwatia.
- Identify and estimate the value of all mining concessions belonging to GCDL Limited
- Develop an inventory register of mineral assets.
3.0 SCOPE OF SERVICE
The Consultant is expected to carry out the following key tasks:
- Carryout an assessment and verification of mineral resources (tailings and mine reserves) at GCDL Limited.
- Review the forecasted Life of Mine (LoM) financial model and challenging and adjusting the assumptions (where and if we believe such to be necessary)
- Determine key valuation parameters and inputs, such as; weighted average cost of capital, peer companies earnings multiples and applicable discounts and premiums.
- Employ the most efficient valuation methodology to value the mineral resources (tailings and the mine reserves) in general.
4.0 SELECTION CRITERIA
The State Interests and Governance Authority now invites eligible firms to express their interest by providing evidence of the following eligible documents for shortlisting.
- Certificate to Commence Business
- Certificate of Incorporation
- VAT Registration Certificate
- Valid Tax Clearance Certificate
- Valid SNNIT Clearance Certificate
- Evidence of registration with the Public Procurement Authority
- Certified Audited Accounts for the past three (3) years (i.e., 2019, 2020 & 2021)
- Firms Profile indicating relevant experience with references
The method of evaluating the Request for Proposals (RFP) will be the Quality and Cost Based Selection (QCBS) procedure specified in the Public Procurement Act, 2003 (Act 663 as amended) and in the Guidelines of the Public Procurement Authority of the Republic of Ghana.
5.0 DURATION OF SERVICE
The duration for the completion of assignment shall be no longer than four (4) weeks. The assignment is expected to commence one (1) week after contract award.
6.0 SUBMISSION
Interested firms may obtain further information at the address below during office hours from 09:00 to 17:00 hours GMT, Monday to Friday.
Expression of interest shall be in English and must be delivered in a written form in five (5) hard copies (one original and four copies) with an electronic copy on pen drive in a sealed envelope and clearly marked ‘EXPRESSION OF INTEREST FOR PROCUREMENT OF CONSULTING SERVICES FOR VALUATION OF THE MINERAL RESOURCES OF THE GHANA CONSOLIDATED DIAMONDS LIMITED’ to the address below in person, or courier by 11:00 hours GMT on or before Thursday 24th November, 2022.
Please Note: Alternatively, electronic submission via the email provided below can be accepted.
The Director-General
State Interests and Governance Authority
- O. Box M 393
Ministries – Accra
Tel: +233 244 895 900
E-mail: frank.ademan@siga.gov.gh
