Newmont pays GHC110m dividend to government

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Mr Jinapor (right) with the team from Newmont

Newmont Golden Ridge Ltd (Akyem Mine) has paid dividend of over GHC110 million to the government for the year 2021 in respect of its carried interest in the company.

This follows a declaration of dividend by the Board of Directors of Newmont Ghana at its second quarter meeting of 2021, after considering all future capital commitments.

A global leader in mining, Newmont operates the Ahafo and Akyem mines, and is the country’s leading producer of gold.

At a short ceremony in Accra, the Regional Senior Vice-President – Africa Operations, Francois Hardy, led a delegation of Newmont officials to present a symbolic cheque to the Minister of Lands and Natural Resources, Samuel Abu Jinapor. He thanked the government for its continuous support to the company as it strives to create value and improve lives through sustainable and responsible mining.

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According to Mr Hardy, Newmont Ghana takes its fiscal responsibilities seriously and will continue to demonstrate transparency through publishing what it pays.

“In 2020, our Ahafo and Akyem mines paid GHC1.83bn in Corporate Income Tax, Mineral Royalty, PAYE and others. Again, in July this year, we published our 2021 half year taxes and royalty payments made (i.e. from January to June 2021). Altogether, Newmont Ghana’s Ahafo and Akyem Mines paid over GHC947M to the Ghana Revenue Authority,” he stated.

COVID-19 Impacts

Touching on the impact of COVID-19 on its operations in Ghana, Mr Hardy said although the pandemic significantly impacted the mining sector, Newmont Ghana put in place the necessary interventions to keep its workforce and communities safe. He said the company continued operating during the pandemic, with its leaders and teams adjusting to time as conditions changed.

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Beyond safeguarding the safety of its over 6,000 employees across its three operational sites, Newmont complied with the various COVID-19 protocols. It spent over $2.2m to support the Chamber of Mines’ efforts in the fight against the pandemic. It also assisted its host communities with medical supplies to local hospitals, virtual learning via radio and helping government institutions and health institutions across the country over the period.

Commendation

Receiving the cheque on behalf of government, Mr Abu Jinapor lauded Newmont’s numerous contributions to national development, and urged other mining companies to emulate the company’s example.

He said the government is desirous of making Ghana the mining hub of Africa, and assured of his ministry’s effort at creating a conducive environment for mining operations.

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