Newmont Pays 241 Million Cedis As Tax In 2011

Newmont Ghana Gold Limited (NGGL), paid a total of 241 million cedis as tax to Ghana Revenue Authority (GRA) in 2011, Mr. Agbeko Azumah, Communications Manager of Newmont Ahafo Mine, has stated. Addressing a press soiree organised by the company for some media practitioners in Sunyani, Mr. Azumah said the payment represented corporate income tax, national fiscal stabilization levy, mineral royalty and withholding taxes. To this end, the GRA adjudged Newmont as the Best Corporate Tax Payer for 2011, he said, adding “one of the company’s beneficiaries of the Agricultural Improvement and Land Access programme, was also adjudged the national best farmer”. The communications manager, explained that, the Newmont Ahafo mine continued to provide opportunities for development and that the Akyem project was in the construction phase while the Ahafo mine was also growing remarkably. Mr. Azumah said, works on the Subika underground at the company’s plant site at Kenyasi was progressing and expressed the hope that production would begin by the first quarter of 2013. He emphasised that, the Newmont Ahafo Development Foundation (NADeF) continued to impact positively in the company’s host communities, disclosing that 21 projects had been approved at an estimated cost of GH˘31,925.75 for this year. Mr. Azumah said, more than 30 projects had already been executed since 2009 and that 2,335 students from the local communities had been awarded scholarships in tertiary and second cycle institutions under the NADeF fund. He gave the assurance that the company would continue to create shared value for its host communities and not relent on efforts to work in a safe and responsible manner. “We need the collaboration of all our stakeholders especially the media, traditional authorities, government and regulators to carry out this mandate in a mutual beneficial manner”, Mr. Azumah said.