Newmont pays GH¢184.6m

communities, the local economy, as well as the broader economy of Ghana, in terms of employment creation, local supply chain opportunities, as well as taxes, royalties, and dividend payments to government,” Mr Thornton said.

On Newmont Africa’s direct support to the Ghanaian economy in the past year, beyond statutory payments, Mr Thornton mentioned the company’s support for the government’s gold buying programme that was meant to shore up the country’s gold reserves and help stabilise the economy.

In spite of global economic challenges that had negatively impacted businesses globally, Newmont Africa was the rst mining company to support the government’s gold buying programme by selling 3,500 ounces of gold to the government, through the Bank of Ghana (BoG) in May 2022.”

“An additional 22,500 ounces of gold was sold to BoG in October and November 2022, making a total of 26,000 ounces of gold sold to government in 2022,” he added.

Newmont commended

Receiving the cheque, the Minister of Finance, Ken Ofori-Atta, com mended Newmont Africa for its compliance to tax and other nan cial payments to the government of Ghana. The minister also lauded Newmont Africa for its prompt payment of taxes and acknowledged the po tential bene ts of the Ahafo North project. He said, “We welcome payments such as these, especially during these challenging times, and we wish to commend you for being prompt with your payments, be they taxes, royalties, or dividends.”

“We are aware that the Ghana Rev enue Authority has recognised you, on several occasions, for your tax compliance.

We look forward to the resumption of your Ahafo North project this year, which will bring in even more revenue to the state.”

Through a combination of tax pay ments in United States dollars, as well as making forex available to the BoG, Newmont Africa has sup ported and impacted forex avail ability to the government of Ghana.