Deal #3404 | Version 93275 | Version 95346 |
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General info | ||
Size under contract (leased or purchased area) |
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Size in operation (production) |
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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 Companyβs 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 |
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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 Miroβs 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 Miroβs 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 |
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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 | |
Employment | ||
Investor info | ||
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 βMiroβ) 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 βMiroβ) is a commercial forestry and timber products group operating in West Africa in Ghana and Sierra Leone. |
Local communities / indigenous peoples | ||
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. | |
Former use | ||
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 | |
Produce info | ||
Carbon sequestration/offsetting |
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Water | ||
Gender-related info | ||
Overall comment | ||
Meta | ||
Locations | ||
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 sources | ||
Data source #QJaMrEhl | ||
Type | Personal information | |
Keep PDF not public | No | |
Publication title | βGCC Agro-Investments in sub-Saharan Africa, Synthesis Report, Bart Hilhorst | |
Date | 2015-12-07 | |
Name | Bart Hilhorst | |
hilhorst@fireflybay.com | ||
Comment on data source | βGCC Agro-Investments in sub-Saharan Africa, Synthesis Report, Bart Hilhorst, March 2014β | |
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 | |
Contracts | ||
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 |