You are here: HomeBusiness2018 06 06Article 658097

Business News of Wednesday, 6 June 2018


Goldfields pays US$1billion dividends to shareholders – Baku

Gold Fields Ghana Limited has paid US$1bn dollars to its shareholders in Ghana including the government since it started mining in the country.

Managing Director, Alfred Baku, in a statement said the company has paid around US$1bn in dividends to shareholders, since the beginning of its surface mining operations in 1998. Of this amount, the government, having a 10 percent ownership through a free-carried interest, has earned in excess of US$100m in dividend payments and over US$1.2bn directly in corporate taxes and royalties.

“Our communities have been direct and major beneficiaries of our social support, and the company has spent approximately US44million in these communities; providing access to potable water, supporting our local farmers, putting up health and educational facilities, training our community youths, building critical infrastructure, and extending bursaries and scholarships to bright but needy pupils and students. Several accountants, doctors, engineers, and other professionals have been able to build their careers on the back of our scholarships and bursaries.”

The statement also spoke about the company’s sponsorship of the national football team to three world cup appearances from 2006 to South Africa 2010 and two African Cup of Nations appearances.

The managing director spoke about the feverish efforts the company is making to upgrade the 33km road that links the Tarkwa and Damang Mines at over US$21million and when completed, will stimulate economic activities in the area, he concluded.