Newmont Africa’s operations in Ghana, comprising the Ahafo South and Akyem mines, have reported notable financial contributions to the government in the first half of 2023.
The company’s tax payments, totaling GH¢2.046 billion, were directed to the Ghana Revenue Authority, Forestry Commission, and Ministry of Finance.
By June 2023, Newmont Africa had disbursed GH¢1,313.99 million as corporate tax, GH¢362.79 million as mineral royalties, GH¢210.29 million as Pay as you Earn, GH¢73.62 million as withholding tax, GH¢67.33 million as carried interest, and GH¢18.28 million as Forestry Levy.
The breakdown of these payments indicated that the Ahafo South operation contributed GH¢1,385.97 million, while the Akyem operation contributed GH¢660.33 million.
Newmont Africa’s Chief Financial Officer, Danquah Addo-Yobo, highlighted the company’s consistent commitment to transparent tax practices and its multifaceted contributions to local communities.
He underscored their investments in areas like health, security services, education, and infrastructure as a testament to their dedication to value creation and community development.
The company’s track record underscores their responsible corporate conduct, focusing not only on meeting fiscal responsibilities but also contributing substantively to Ghana’s economy.
Newmont Africa stands as an exemplar of how mining entities can substantially contribute to positive societal change while fulfilling their financial duties.