Newmont Ghana Limited has delivered a significant financial commitment to the Government of Ghana, presenting a cheque for $174 million as partial payment of capital gains tax related to the recent sale of its Akyem Mine.
The transaction, which is valued at close to $1 billion, triggered tax obligations of over $220 million, a substantial portion of which has now been settled.
The payment was made during a formal presentation led by Mr. Danquah Adoo-Yobo, Head of Finance for the Africa-Canada Business Unit of Newmont. The cheque was handed over to Finance Minister Dr. Ato Forson, who received the funds on behalf of the government.
In addition to the capital gains payment, Newmont also submitted a separate cheque for $50 million, representing Ghana’s carried interest in the deal.
Dr. Forson praised the mining giant for its willingness to meet its obligations, noting that Newmont’s approach reflects a strong spirit of corporate responsibility. He used the opportunity to encourage continued collaboration, especially within the framework of Ghana’s fiscal policies.
“Newmont for its good faith and commitment to upholding its tax obligations,” he said, adding that the government has high expectations under the Growth and Sustainability Levy and “urged them to continue in the spirit of transparency and partnership.”
The Finance Minister further assured Newmont and the public that government remains focused on improving infrastructure in communities impacted by mining operations.
“As a matter of urgency, I will engage the Roads Ministry to commence work on the Kumasi–Kenyasi road, with an expected construction timeline of 12 to 18 months,” he added.
The payments mark a major milestone in the country’s efforts to ensure that resource extraction benefits the broader economy, particularly in mining-affected areas.
