Newmont Africa’s Ghana operations at Ahafo South and Akyem mines has paid a total of ¢2.76 billion in taxes, royalties, levies, and carried interest to the government of Ghana in 2022.
This was through the Ghana Revenue Authority, Forestry Commission, and Ministry of Finance.
For 2022, Newmont Africa said it “paid ¢1.53 billion as Corporate Income Tax, ¢548.3 million as Mineral Royalties, ¢261.3 million as Pay As You Earn, ¢164.5 million as Withholding Tax, ¢222.1 million as Carried Interest, and ¢35.5 million as Forestry Levy.”
In the last quarter of the year (September to December of 2022), Newmont Africa’s payment to government amounted to GHS 1.04 billion, across the two operations.
Breaking it down by operation, Newmont Africa’s Regional Chief Financial Officer, Danquah Addo-Yobo, said, “the Ahafo operation contributed ¢1.22 billion for the year while the Akyem operation contributed ¢1.54 billion.”
“Over the years, Newmont Africa has been recognised as a compliant and significant taxpayer in Ghana, and has been duly acknowledged as such by the Ministry of Finance and its revenue agency, the Ghana Revenue Authority.”
Beyond meeting its tax obligations to the government, Newmont Africa also supports the nation’s growth through employment opportunities, local supply chain development, and social investment, among others.
Newmont Africa has played and continues to play a major role in the government’s gold purchasing programme, designed to shore up the country’s gold reserves and help stabilise the national currency.
- Mobile Money transactions in only 2 months of 2023 hit ¢264.1bn
- We would all have sworn to Antoa if my dad was alive – Zanetor Rawlings
- I don’t know – Akufo-Addo on presence or otherwise of Al-Qaeda troops in Ghana
- Kamala Harris urges Ghana’s creditors to help meet debt obligation amid IMF talks
- Speculation that NDC imposed its decision on Minority Caucus is untrue – Sammy Gyamfi
- Popular American filmmaker Spike Lee is in Ghana
- T-Bills auction: sales undersubscribed by 23%; interest rates remain stable
- BoG increases policy rate to 29.5%; loans to remain expensive
- AFCON 2023Q: Osman Bukari salvages point for Black Stars against Angola
- We’re committed to helping Ghana resolve current economic crisis – China assures
- Gold Mafia: Gold smuggler sneaks $40 million worth of gold out of Ghana every month
- Harris’ visit should accelerate US-Ghana partnerships – Genser
- NDC’s ‘betrayal’ may have been the result of several factors – Dr. Seidu Alidu
- Taking pictures, videos of ballots was not a party directive – Murtala Mohammed
- NDC as a party did not fail Ghanaians – Kofi Adams
- There had been broad consultation, consensus to reject President’s ministerial nominees – Murtala Mohammed
- Israel Laryea is away “on loan” at Influencer Africa
- Patriotism won over partisanship – Annoh-Dompreh on approval of six ministerial nominees
- Playback: PM Express discuss NDCs betrayal
- Fight against galamsey will be won if Akufo-Addo loses power – Kwakye Ofosu
- People fail in life due to their mindset – Motivational speaker
- Become the voice of climate change reporting – Climate Change Fellows urged
- Destination Ghana Global Project announces This Is Africa Festival
- Kamala Harris features Black Sherif, Amaarae on Spotify playlist
- Kwaebibirem United FC to raise funds to support operation of the club