Deal #3404 Version 93275 Version 95346
Size under contract (leased or purchased area)
  • [2009] 5002.28 ha
  • [2012] 6538.28 ha
  • [2017] 10966 ha
  • [2018, current] 18901 ha
  • [2009-05-18] 4β€―037 ha
  • [2011] 4β€―071 ha
  • [2015] 5β€―613 ha
  • [2016] 10β€―751 ha
  • [2017] 14β€―504 ha
  • [2018] 17β€―319 ha
  • [2019] 17β€―983 ha
  • [2023, current] 19β€―733 ha
Size in operation (production)
  • [2013] 1254.8 ha
  • [2021, current] 10000 ha
  • [2014] 1β€―163 ha
  • [2016] 1β€―345 ha
  • [2017] 1β€―478 ha
  • [2018] 1β€―378 ha
  • [2019] 1β€―556 ha
  • [2023] 8β€―940 ha
  • [2023, current] 12β€―740 ha
Comment on land area
In 2017 the company obtained a lease for 4,428ha in the Awuru ad Chirimfa forest reserves. The land areas not planted by the Company currently hold a canopy cover of less than 5% and show a dominance of secondary growth species such as elephant grass, characteristic of the transition zone, and is ideally suitable for growing both indigenous and commercial timber species. The company is looking to expand the area in operation (2021 annual report). "Our plantations in both Ghana and Sierra Leone are large, now covering almost 10,000ha each" (annual report 2021).
According to Verra documents the Company’s current total land holding is 17,983 hectares. The company's website indicates the size in operation as of 2023 in 8940 ha. Note that contract area polygons are not available for all size increases, hence the total size under contract under land area is higher than the sum of the land area under the location tab. The company annual report 2019 indicates total land holding summing 48,084 hectares, of which - Ghana: 20,835 ha and in Sierra Leone: 27,249 ha. A 2023 ESIA report states that in Ghana Miro operations are in Boumfuom, Chirimfa, Awura and Abrimasu and South Formangso Forest Reserves in the Asante Akim North district, Sekyere Afram Plains district and Mampong municipality and Asante Akim South district respectively, in the Ashanti Region. The total land holding is 19,733 hectares (ha), made up of c.12,000 ha planted (i.e., Eucalyptus species, Acacia, Gmelina and Teak) and 6,993 ha of conservation area which have been leased from the government through the Forestry Commission (data source #11 7vs5W80h).
Intention of investment
  • [2018, current] Timber plantation for wood and fiber, For carbon sequestration/REDD (18901 ha)
  • [2019] Timber plantation for wood and fiber, For carbon sequestration/REDD (17β€―983 ha)
  • [2023, current] Conservation (6β€―993 ha)
  • [2023, current] For carbon sequestration/REDD, Timber plantation for wood and fiber (12β€―740 ha)
Comment on intention of investment
The Company mixes commercial plantation forestry with protection and regeneration of indigenous tree species and the promotion of bio-diversity and environmentally sustainable land-use management. Miro has signed a commission agreement with South Pole, one of the largest traders in carbon credits, to certify Miro’s plantations to the voluntary carbon standard (VCS) and then sell the resulting credits. As a result, Miro expects to sell approximately 700,000+ credits in the next 6-12 months followed by over 150,000 per year hereafter.
The Company mixes commercial plantation forestry with protection and regeneration of indigenous tree species and the promotion of bio-diversity and environmentally sustainable land-use management. Miro has signed a commission agreement with South Pole, one of the largest traders in carbon credits, to certify Miro’s plantations to the voluntary carbon standard (VCS) and then sell the resulting credits. As a result, Miro expects to sell approximately 700,000+ credits in the next 6-12 months followed by over 150,000 per year hereafter. The land areas not planted by the Company currently hold a canopy cover of less than 5% and show a dominance of secondary growth species such as elephant grass, characteristic of the transition zone, and is ideally suitable for growing both indigenous and commercial timber species.
Comment on carbon offset project
Carbon offset project.
Comment on nature of the deal
Miro Forestry to lease the land in agreement with the landowners and the Forestry Commission for a period of 50 years and will be renewable for a further 50 years.
Comment on negotiation status
Increase in land area since 2009. In 2012 the company obtained a second concession in the same forest reserve
Several increases in land area have been signed since 2009.
Implementation status
  • [2010] Startup phase (no production)
  • [2011] In operation (production)
  • [2021, current] In operation (production)
  • [2010] In operation (production)
  • [2023, current] In operation (production)
Comment on implementation status
First trees planted in 2010 From JRC: ": VHR from 2012 and 2014 are showing a small timber plantation of about 100 ha. It seems the plantation started a bit before 2012 (trees are low). From the analysis of Sentinel-2 time series between 2016 and 2019, it seems that the area covered by trees increased each year." Still in operation in 2021.
First trees planted in 2010. From JRC: ": VHR from 2012 and 2014 are showing a small timber plantation of about 100 ha. It seems the plantation started a bit before 2012 (trees are low). From the analysis of Sentinel-2 time series between 2016 and 2019, it seems that the area covered by trees increased each year." Still in operation in 2023.
Annual leasing fee
7β€―000
Annual leasing fee currency
US Dollar ($)
Annual leasing fee type
PER_AREA
Annual leasing fee area
5β€―000 ha
Comment on investment chain
Finnfund and CDC have invested in the project. The company used to be called Miro National Interest Company Limited (MIRO-NICOL) but is more recently referred to only as MIRO Forestry Ghana. Miro Forestry Developments Limited (hereafter β€œMiro”) is a commercial forestry and timber products group operating in West Africa in Ghana and Sierra Leone.
Finnfund and CDC have invested in the project. The company used to be called Miro National Interest Company Limited (MIRO-NICOL) but is more recently referred to only as MIRO Forestry Ghana. Miro Forestry Developments Limited (hereafter β€œMiro”) is a commercial forestry and timber products group operating in West Africa in Ghana and Sierra Leone.
Comment on communities / indigenous peoples affected
The forest reserves land is owned by the people of Agogo, Kwamang, Mampong and Kumawu Traditional areas
Comment on community reaction
Plantain plantation owners filed legal action against the company for 'destroying' 1200acres.
Comment on former land use
Degraded forest land. Most likely local communities will have used the land for agriculture and communal use of resources.
Comment on former land cover
Degraded forest land
Carbon sequestration/offsetting
  • [2017, current] Reforestation & afforestation ( 10000 ha)
    Estimated emission reduction/removal during project lifetime: 178535 tCO2e
    Estimated annual emission reduction/removal: 46229 tCO2e
    Certification standard: Yes
    Name of certification standard/mechanism: Verified Carbon Standard (VCS)
    ID of certification standard/mechanism: VCS2410
    Comment on certification standard / mechanism: VCS standard
  • [2016–2046, current] Reforestation & afforestation ( 8β€―940 ha)
    Estimated emission reduction/removal during project lifetime: 9β€―810β€―123 tCO2e
    Estimated annual emission reduction/removal: 327β€―004 tCO2e
    Project proponents: Swiss Carbon Value Ltd,Miro Forestry (Ghana) Ltd,Miro Forestry Developments Limited
    Certification standard: Yes
    Name of certification standard/mechanism: Verified Carbon Standard (VCS)
    ID of certification standard/mechanism: VCS2410
    Comment on certification standard / mechanism: FSC certified since 2010, ensuring adherence to sustainability standards.
  • [2016] Reforestation & afforestation ( 8β€―940 ha)
    Estimated emission reduction/removal during project lifetime: 9β€―810β€―123 tCO2e
    Estimated annual emission reduction/removal: 327β€―004 tCO2e
    Project proponents: Swiss Carbon Value Ltd,Miro Forestry (Ghana) Ltd,Miro Forestry Developments Limited
    Certification standard: Yes
    Name of certification standard/mechanism: REDD+
    ID of certification standard/mechanism: 489
    Comment on certification standard / mechanism: REDD+

Location #Y8NuHmT3

Comment
Block G (Compartments 101, 102, 103, 104, 106, 108, 109, 111). In 2012 the company obtained the lease rights to compartments 105, 107, 110, 112. Contract area derived from ESIA report. Situated in Agogo
Block G (Compartments 101, 102, 103, 104, 106, 108, 109, 111). Contract area derived from ESIA report. Situated in Agogo

Location #j9F6B8DX

Comment
Block F (Compartments 120, 123, 124, 127, 131, 134, 135, 138, 139) In 2012 the company obtained the lease rights to compartments 119, 130, 146, and 115. Contract area derived from ESIA report. Situated in Boumfun Forest Reserve
Block F (Compartments 120, 123, 124, 127, 131, 134, 135, 138, 139) Contract area derived from ESIA report. Situated in Boumfun Forest Reserve

Location #iiGTxtjX

Comment
Block E (Compartments 89, 90, 96, 97). In 2012 the company obtained the lease rights to compartments 87, 88, 94 Contract area derived from ESIA report. Located in Kumawu, Ghana
Block E (Compartments 89, 90, 96, 97). Contract area derived from ESIA report. Located in Kumawu, Ghana

Location #uDHCe_pp

Comment
Compartments 154, 155, 156, 157. In 2012 the company obtained the lease rights to compartment 160 Contract area derived from ESIA report.
Compartments 154, 155, 156, 157. Contract area derived from ESIA report.

Data source #QJaMrEhl

Type
Personal information
Keep PDF not public
No
Publication title
β€œGCC Agro-Investments in sub-Saharan Africa, Synthesis Report, Bart Hilhorst
Date
2015-12-07
Name
Bart Hilhorst
Email
hilhorst@fireflybay.com
Comment on data source
β€œGCC Agro-Investments in sub-Saharan Africa, Synthesis Report, Bart Hilhorst, March 2014”

Data source #5KYe3Box

File
Type
Media report
Url
Keep PDF not public
No
Publication title
Agogo plantation owners go to court
Date
2012-07-23
Organisation
Modern Ghana
Comment on data source
Modern Ghana- Agogo plantation owners go to court

Data source #-0qYABuN

Type
Personal information
Keep PDF not public
No
Date
2014-04-18
Name
Lorenzo Cotula
Organisation
IIED
Comment on data source
From deleted deal 4348

Data source #D5-5N2zG

File

Data source #M2ckLxtK

File
Type
Media report
Url
Keep PDF not public
No
Publication title
Miro Forestry and Timber Products LinkedIn
Organisation
linkedin

Data source #sUDHZqnO

File
Type
Contract (contract farming agreement)
Url
Keep PDF not public
No
Comment on data source
Contract between Miro Forestry Developments Limited and Swiss Carbon Value LTD

Data source #qA1NSFfL

File
Type
Company sources
Url
Keep PDF not public
No
Publication title
Miro Annual Report
Date
2023
Comment on data source
Size in operation

Contract #CWnBtvdA

Comment on contract
Date of allocation by the Ghana Forestry Commission for the first section of 5,002ha
Date of allocation by the Ghana Forestry Commission for the first section. Several land area expansions have taken place since the initial lease was signed. Miro Forestry has leased the land in agreement with the landowners and the Forestry Commission for a period of 50 years with the possibility for renewal.

Contract #87hovGq4

Date
2012-11-21
Comment on contract
Allocation date of Forestry Commission for second concession of 1,536ha