Newmont’s African Business Unit reported that in the first quarter of 2024, its operations in Ghana (Ahafo South and Akyem mines) contributed a total of GH₵ 1.295 billion in taxes, royalties, levies, and carried interest to the Ghanaian government, facilitated through the Ghana Revenue Authority, Forestry Commission, and Ministry of Finance.
This follows the recent disclosure of its fiscal payments for the full year of 2023 to the Ghanaian government, amounting to GH₵ 3.965 billion from its Ghanaian operations.
This represents a 43.6% increase in fiscal payments compared to the same period in 2022.
In the first quarter of 2024, Newmont’s Ahafo South operation accounted for GH₵ 1.105 billion, while its Akyem operation contributed GH₵ 190 million.
Breakdown for January to March 2024 reveals GH₵ 672 million in Corporate Tax, GH₵ 291 million in Mineral Royalties, GH₵ 99 million in Pay-As-You-Earn, GH₵ 97 million in Withholding Tax, GH₵ 122 million in Carried Interest, and GH₵ 14 million in Forestry Levy.
Newmont is progressing its Ahafo North project in Ghana, expected to add approximately 300,000 ounces per year to its production.
With over 9,000 direct employees and contractors, Newmont prioritizes safety while creating long-term value for stakeholders, host communities, and the local economy.
As the world’s leading gold company, Newmont operates in favorable mining jurisdictions across North America, South America, Australia, and Africa.
Listed in the S&P 500 Index, Newmont is known for its commitment to environmental, social, and governance practices, supported by robust safety standards and technical expertise.