Newmont Ghana pays GH¢77M as first quarter tax payment

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Contributed GH¢303M to 2013 government tax revenue

Accra, 21st May, 2014 – We are pleased to announce that Newmont Ghana (Ahafo and Akyem operations) paid a total of GH¢76,783,341 (US$30,766,933) for the first quarter (January – March) 2014, to the Government of Ghana through the Ghana Revenue Authority (GRA).

This amount represents the Corporate Income Tax of GH¢30,573,980 (US$11,526,477), Mineral Royalty of GH¢25,382,814 (US$10,279,055), Withholding Tax (WHT) of GH¢9,090,657 (US$3,841,521) and Pay As You Earn Tax of GH¢11,735,890 (US$ 5,119,880).

In 2013, Newmont Ghana contributed GH¢302,984,925 (US$153,764,009) to the government tax revenue. The Ahafo operations contributed GH¢269,411,902 (US$136,873,687) out of the total amount while the Akyem operation contributed GH¢33,573,023 (US$16,890,322) within this period.

This brings to date, total tax payments of GH¢1,162,393,740 (US$686,845,941) by Newmont Ghana to the GRA since it started production in 2006.


Bringing Nursing training college to the Asutifi District through NADeF
Newmont Ahafo Foundation (NADeF) together as at year end 2013, had accrued GH¢30M (US$17.6M). NADeF has also funded the execution of the only Nursing college in the Brong Ahafo Region of Ghana, the Ntotroso College of Nursing, community’ libraries, teachers’ quarters, a water system facility, a micro-credit scheme and awarded scholarships worth GHc5M. to 4,487 students.

In Akyem, we have taken significant community development projects including the following:

  • Health - Hospital wards, operating theatre, reliable power, doctors and nurses accommodation.
  • Water - Modern water storage and distribution infrastructure including administration facilities.
  • Education - Schools, class-rooms, male and female dormitories, male and female toilets, vocational college.
  • Environment - Community Land-Fill – modern waste collection and handling facility.
  • Security - Community policing infrastructure.

We thank all employees, contractors and other stakeholders for their contributions towards this achievement.