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Goldfields pays GH¢86.7 million dividend to govt

BY: Timothy Ngnenbe
Joshua Mortoti (3rd from left), the acting Executive Vice-President and Head of Goldfields West Africa, presenting the dummy cheque to Samuel Abu Jinapor (middle), Minister of Lands and Natural Resources
Joshua Mortoti (3rd from left), the acting Executive Vice-President and Head of Goldfields West Africa, presenting the dummy cheque to Samuel Abu Jinapor (middle), Minister of Lands and Natural Resources

Goldfields Ghana Limited has paid an interim dividend of GH¢86.7 million on its Tarkwa Mines to the government for the 2022 financial year.

The dividend was paid in respect of the government's 10 per cent stake in the mining company.

The acting Executive Vice-President and Head of Goldfields West Africa, Joshua Mortoti, presented the cheque for the amount to the Minister of Lands and Natural Resources, Samuel Abu Jinapor, in Accra last Tuesday.

Investment

Mr Mortoti said apart from fulfilling its financial obligations to the government, the company, through its Goldfields Ghana Foundation, had also invested US$84.4 million in development programmes and projects in host communities in the Western Region since 2004.

He mentioned the 33-kilometre Tarkwa-Damang road, which was funded at a cost of US$27 million and completed in 2019, as a major project funded by the foundation

It had also expended over US$16.2 million on the refurbishment of the T and A Park in Tarkwa, turning it into a 10,400-seater stadium which is expected to be completed by the end of the year.

"We do these things to ensure that the 19 host communities of our Tarkwa and the Damang mines benefit from the value we create through the foundation," Mr Mortoti added.

He called for more collaboration with the government to ensure that the company remained in sustainable business for the benefit of all stakeholders.

Commendation

Mr Jinapor commended the company for being consistent in the payment of dividend to the government.

"Goldfields Ghana was one of the companies which stepped forward to pay dividend even before I was sworn in as minister, and I recall that vividly. I commend you for consistently fulfilling your financial obligations to the government, " he said.

The minister urged other mining companies to endeavour to pay their dividends to strengthen the bond between the state and the companies.

He said as the regulator of the mining industry, the government would continue to create a conducive environment for the sector to thrive.

"Let me reiterate the fact that the government, being the regulator and custodian of public interest, has a responsibility and duty to create that conducive environment for businesses to thrive and be able to declare and pay dividends to the government," Mr Jinapor said.