David Thornton — Regional Senior Vice President — Newmont Africa
David Thornton — Regional Senior Vice President — Newmont Africa

Newmont pays over GH¢800m taxes in first quarter

Newmont Africa has paid GH¢ 843.72 million in taxes, royalties, and levies to government from its first quarter of 2023, operations in Ghana (Ahafo South and Akyem Mines).


The payment made through the Ghana Revenue Authority (GRA), Forestry Commission, and Ministry of Finance, comprises a Corporate Tax of GH¢514.57 million, Mineral Royalties of GH¢197.06 million, GH¢ 78.23 as Pay As You Earn (PAYE), GH¢ 42.31 as Withholding Tax and GH¢11.55 million as Forestry Levy.

In his comments after the payment, the Regional Senior Vice President, Newmont Africa, Operations, David Thornton, said “Fulfilling our obligations in terms of statutory payments, and being transparent about what we pay, are in line with our commitment to regulatory compliance and good corporate governance”.

He said Newmont Africa’s operations in Ghana had a strong tax compliance history and received multiple taxpayer recognitions from the GRA.

“It is important, especially in these challenging times, for companies to honour their obligations to the state, as well to their various stakeholders, through direct payment of their taxes and investment in social programmes,” he added.

Mr Thornton said apart from the taxes, royalties, and levies that went directly to government towards the growth and stabilisation of the economy, Newmont Africa also focused on stimulating economic development in the local communities that hosted the mining operations, through a range of programmes and projects that delivered measurable outcomes.

Acknowledging the key role that road infrastructure plays, particularly in farming communities, he said Newmont Africa’s operations in Akyem and Ahafo had both funded critical road infrastructure, working through the Ministry of Roads.

The mines’ investment in skills acquisition and sustainable livelihood programmes also ensure that local community residents are equipped with employable skills that are needed in the extractive and construction industries.

Connect With Us : 0242202447 | 0551484843 | 0266361755 | 059 199 7513 |

Like what you see?

Hit the buttons below to follow us, you won't regret it...