Newmont Ghana committed in 2005 to allocate $1 per ounce of gold sold and 1
percent of mine net profit to fund sustainable community development projects
in Ghana. Since then, we engaged with Traditional Councils, the District
Assemblies of Asutifi and Tano North, community groups' representatives and
nongovernmental organizations to form the Ahafo Social Responsibility Forum.
This group discusses and implements sustainable community development
initiatives.
By 2008, the Forum developed and signed three formal agreements among our
operation and 12 nearby communities. The agreements outline employment, terms
of our relationship, respective roles and responsibilities, and the
establishment of a foundation to manage and use a Community Development Fund
for sustainable community development projects.
Additionally, the Forum and Newmont Ghana have launched the Newmont Ahafo
Development Fund, which will disburse development money set aside by our
company to support our host communities' development programs.
"We have a moral obligation to improve the standard of living of people
living in our area of operation," said Dr. Chris Anderson, director of
Corporate and External Affairs for Newmont. Under the three-tier agreement, we
will hire additional local unskilled labor and provide training mechanisms;
continue the social and economic development of the Ahafo community; and fund
the Newmont Ahafo Development Foundation.
At the signing ceremony, Jeff Huspeni, Newmont senior vice president of
Africa Operations, presented a check for $857,000 being the amount accrued for
the Foundation to that date.
