Newmont Ghana completes its first gold sale to Bank of Ghana
Newmont Ghana has successfully sold 3,500 kilo-ounces of gold to the Bank of Ghana, the country’s central bank, under the nation’s first gold buying program.
“We are very happy to be part of this historic transaction and to once again be able to contribute our quota to the economic development of this country. This is a great example of how mining is critical to national development and we are pleased to lead the way as the nation’s premier gold producer,” said Dave Thornton, Regional Senior Vice President. of Newmont Africa, in a statement issued by Director, Communications and External Relations, AgbekoAzumah, and copied to the Ghanaian Times in Accra yesterday.
Launched in June 2021, the Bank of Ghana (BoG) Domestic Gold Buying Program aims to increase the country’s gold reserves to maintain the country’s economic stability, with the intention of buying gold. refined gold at the country’s mining companies.
The statement said Newmont Ghana expected its leadership in the gold sale agreement to be emulated by other mining companies in the country, as the company continued its commitment to value creation and its contribution to maintaining stability. country’s budget.
In 2021, the statement said the company paid GH¢1.86 million in taxes and royalties to the Government of Ghana and paid GH¢574 million in similar taxes in the first quarter of 2022.
He said that Newmont Ghana’s community foundations in the host communities of its Ahafo and Akyem mines had raised over $54.2 million and made notable contributions in the areas of human resource development, infrastructure development and development. support for financing microcredit.
“We will continue to partner with all stakeholders to create more value for our communities and the region through sustainable and responsible mining,” Thornton added.
Newmont Africa, a subsidiary of Newmont Corporation, the world’s leading gold company, is Ghana’s leading gold producer with two gold mining operations in the Ahafo Mine in the Ahafo Region and the Akyem Mine in the Eastern Region .
Newmont’s goal is to create value and improve lives through sustainable and responsible mining and its Ahafo North project has received full funding following regulatory permit approvals and extensive community engagements.