Newmont Ghana pays GH¢78M as first quarter 2013 tax

Newmont Ghana (Ahafo Mine) has announced the payment of GH¢78,191,762 (US$41,858,812) to the Ghanaian Government as its first quarter tax payment for 2013.

The amount paid, through the Ghana Revenue Authority (GRA), represents Corporate Income Tax of GH¢57,476,207 (US$30,298,475), Mineral Royalty of GH¢10,865,669 (US$5,767,710), Withholding Tax (WHT) of GH¢3,557,596.69 (US$1,891,190) and Pay As You Earn (PAYE) of GH¢6,292,289 (US$3,901,437).

In 2012, Newmont Ghana paid a total of GH¢330,531,038 (US$180,568,902) as its tax obligation to the Government of Ghana. To date, Newmont Ghana has made total tax payments of GH¢830,441,009 (US$525,233,938) to the GRA since it begun production in July 2006.

Newmont Ghana has made significant contributions in its Ahafo and Akyem communities. In 2008, the company set up the Newmont Ahafo Development Foundation (NADeF) to fund community initiative development. The Foundation as at year end 2012 had accrued approximately US$12million. NADeF has funded the execution of community libraries, teachers’ quarters, water system facilities, micro-credit scheme and awarded scholarships worth GH¢3.6million to 3,700 students.

In Akyem, Newmont Ghana through its Influx Management Programme has undertaken significant community interventions including training over 2,536 community/group members. These community members have been trained in environmental sanitation/hygiene with emphasis on malaria and cholera infection to reduce water and sanitation-related illnesses.

Additionally, the company has trained more than 1,500 community/group members in the mode of transmission, symptoms, impact and prevention HIV/AIDS and other sexually transmitted infections (STIs) to increase awareness of prevention and disease epidemiology.

Newmont Ghana has also instituted a four-year Apprenticeship Programme in Akyem to provide local youth with the relevant skills tailored to its operational needs. So far, the Apprenticeship Programme has enrolled 184 students from host communities with 55 graduates currently employed as equipment operators.

The company expressed appreciation to its employees, contractors and other stakeholders for their contributions towards this achievement.