\n
Newmont Corporation, the world\u2019s leading gold business and Ghana\u2019s leading gold producer continues to make substantial financial contributions to the economy through its tax payments.<\/p>\n
In the first half of 2024 alone, Newmont\u2019s operations in Ghana, which include the Ahafo and Akyem mines, paid over GH\u00a23.176 billion in taxes, royalties, levies, carried interest and property rates to the Government of Ghana.<\/p>\n
These payments were directed to the Ghana Revenue Authority, Forestry Commission, Ministry of Finance, and various District Assemblies where the company operates. This significant contribution underscores Newmont\u2019s commitment to fulfilling its fiscal obligations and supporting the country\u2019s economic development.<\/p>\n
A recent release from the company provided breakdown of the different components of the fiscal payments. These included GH\u00a21.727 billion in corporate tax, GH\u00a2625 million in mineral royalties, and GH\u00a2364 million in carried interest payments.<\/p>\n
The others were pay as you earn (PAYE) tax contributions which stood at GH\u00a2253 million, withholding tax payments totaling GH\u00a2180 million, GH\u00a222 million of forestry levy payment for the Akyem mine operations and property rates of GH\u00a25 million paid to the district assemblies in Asutifi North and the Birim North.<\/p>\n
Through the transparent and responsible payment of taxes, Newmont emphasizes its dedication to regulatory compliance and good corporate governance. The organization attributes these achievements to the hard work and commitment of its employees as well as to the systems in place to ensure operational excellence.<\/p>\n
Newmont\u2019s contributions extend beyond tax payments. The company invests in various social and community development initiatives aimed at enhancing the well-being of host communities and promoting sustainable development.<\/p>\n
Through the development foundations in both Ahafo and Akyem, Newmont is transforming communities by creating shared value in education, healthcare, social infrastructure, and environmental conservation.<\/p>\n
Newmont\u2019s consistent and substantial fiscal payments highlight the crucial role of the mining sector in Ghana\u2019s economy. In the whole of 2023, Newmont\u2019s operations in Ghana contributed a total of GH\u00a23.965 billion in fiscal payments.<\/p>\n
This remarkable growth reflects the substantial economic impact of Newmont\u2019s safe and responsible mining operations on both local communities and the broader Ghanaian economy.<\/p>\n
As a key player in the mining industry, Newmont continues to set a benchmark for corporate governance, environmental stewardship, and community engagement. The company\u2019s ongoing commitment to responsible mining practices and its significant financial contributions underscore its role as a responsible corporate citizen in Ghana.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Newmont Corporation, the world\u2019s leading gold business and Ghana\u2019s leading gold producer continues to make substantial financial contributions to the economy through its tax payments. In the first half of 2024 alone, Newmont\u2019s operations in Ghana, which include the Ahafo and Akyem mines, paid over GH\u00a23.176 billion in taxes, royalties, levies, carried interest and property […]<\/p>\n","protected":false},"author":1,"featured_media":214176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-214175","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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