Ghana: Newmont Ghana Completes First Gold Sale to Financial institution of Ghana

Newmont Ghana has efficiently bought 3,500 kilo-ounces of gold to the Financial institution of Ghana, the nation’s central financial institution, within the first home gold buying programme.

“We’re very excited to be a part of this historic transaction and to have the ability to contribute our quota but once more in direction of the financial growth of this nation. This can be a nice instance of how mining is crucial to nationwide growth and we’re glad to be blazing the path because the nation’s main gold producer,” Dave Thornton, Regional Senior Vice President, Newmont Africa, stated in a press release issued by the Director, Communications and Exterior Relations, AgbekoAzumah, and copied to the Ghanaian Occasions in Accra yesterday.

Launched in June 2021, the Financial institution of Ghana (BoG) home gold buying programme intends to extend the nation’s gold reserves as technique of sustaining financial stability within the nation, with the intention to buy refined gold from mining corporations throughout the nation.

The assertion stated Newmont Ghana anticipated that its management within the gold sale settlement can be emulated by different mining corporations within the nation, as the corporate continued its dedication to worth creation and contributing towards sustaining the fiscal stability of the nation.

In 2021, the assertion stated the corporate paid GH¢1.86 million in taxes and royalties to the federal government of Ghana and paid GH¢574 million in related taxes within the first quarter of 2022.

It stated Newmont Ghana’s neighborhood foundations in its Ahafo and Akyem mines’ host communities had accrued over $54.2m and made notable contributions within the areas of human useful resource growth, infrastructure growth and micro-credit financing help.

“We’ll proceed to accomplice with all stakeholders to create extra worth for our communities and the area by sustainable and accountable mining,” Mr Thornton added.

Newmont Africa, a subsidiary of Newmont Company, the world’s main gold enterprise, is Ghana’s main gold producer with two gold mining operations within the Ahafo Mine within the AhafoRegion and the Akyem Mine within the Jap Area.

Newmont’s goal is to create worth and enhance lives by sustainable and accountable mining and its Ahafo North Mission has obtained full funding following regulatory allowing approvals and intensive neighborhood engagements.


Leave A Reply

Your email address will not be published.