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Gold mining company, Newmont Ghana promises more jobs for Ghanaians

Newmont has announced that it is going to make a capital investment of between US$750 million and US$850 million in a new mine in the Tano District of the Ahafo Region.

Francois Hardy, Senior Vice President for the African Region, said the governing Board of the Mining Company, had given the greenlight to the project. This would create job opportunities for more people and increase government’s revenue.

The building of the new mine would give additional employment to the people, yield higher dividends and the payment of more taxes and royalties to the government.

He said Newmont’s Ahafo Mine and the Akyem Mine, between them, paid a total of GHs1.83 billion in corporate income tax, mineral royalty and PAYE (pay as you earn).

The mining company, additionally, paid to the Ghana Revenue Authority Ghs947 million cedis in fulfilment of its tax obligation. He was speaking at a ceremony to present to the government a dividend of GHs110,781,440.45.

This divided payment was for this year, 2021. It represented government’s free carried interest share in the Newmont Akyem Mine in the Birim North District of the Eastern Region.

The cheque for the money was received by the Lands and Natural Resources Minister, Mr. Samuel Abu Jinapor. Ghana has large gold deposits and in year 2020, receipts from the mineral to the West African country amounted to US$7.2 billion.

This amount was the nation’s highest earning from gold in 11 years. The figure was about US$1 billion more than the previous year’s total of US$6.2 billion.

Mr. Hardy spoke of the company unswerving commitment to its social responsibility. In line with this, it invested US$2.2 million with the Ghana Chamber of Mines in COVID-19 response.

It also provided support to communities in the mining operation area to help them to keep to the COVID-19 prevention protocols. Mr. Jinapor gave high marks to the mining company for living up to its tax obligations.

The government would continue to provide the right environment – in terms of fiscal operational and legal regimes, for them to smoothly carry out their business. They would make sure that there was adequate security protection for mining concessions.  

Content created and supplied by: KyeretwienanaOseiBonsu (via Opera News )

Akyem Board of the Mining Company Francois Hardy Ghanaians Newmont


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