Newmont pays GH¢1.5 billion to government

Business News of Thursday, 3 December 2015

Source: GNA

Ghana Cedis 19Nov2010Ghana cedi note

Newmont Mining Company paid a total of GH¢1.5 billion to the Government of Ghana in the form of taxes through the Ghana Revenue Authority between 2006 and 2014.

The Development Foundation of the company in the Ahafo and Akyem area has also accrued over 23 million dollars to support infrastructural and social development of the mining communities in Ahafo and Akyem.

Mr Felix Apoh, Senior Manager, Sustainability and External Relations of Newmont disclosed this when he spoke to the Ghana News Agency (GNA) on the sidelines of the dissemination workshop of the 2012/2013 Extractive Industry Transparency Initiative (EITI) programme held at Koforidua.

He said this year, the Newmont Akyem Development Foundation had awarded over 600 scholarships to students in its mining communities to enable them to study from the secondary level to the tertiary level as the company’s support for the development of the human capital of those areas.

Mr Apoh said last year, the company spent over GH¢6 million in the local economy in the Akyem area and GH¢25 million on other national industries, vendors and suppliers in Ghana.

He said this year, the company planned to spend over GH¢25 million to boost the economy of the communities in the Akyem mine area.

Mr Apoh reiterated the determination of Newmont to continue to partner the Government of Ghana to create shared value in a challenging business environment characterized by an unstable gold price regime.