Newmont pays GH¢2.046bn in taxes in first half of 2023

Newmont Africa has in the first half of 2023 paid a total of GH¢ 2.046 billion in taxes, royalties, and carried interest to the govern­ment of Ghana.

By the close of June 2023, Newmont Africa had paid GH¢1,313.99 million as corporate tax, GH¢ 362.79 million as min­eral royalties, GH¢ 210.29 million as pay-as-you-earn, GH¢ 73.62 million as withholding tax, GHS 67.33 million as carried interest, and GH¢ 18.28 million as forestry levy, a statement issued by the company said.

In terms of contribution from the two active operations, the Ahafo South operation contrib­uted GH¢ 1,385.97 million for the first half of the year, while the Akyem operation contributed GH¢ 660.33 million.

Mr Danquah Addo-Yobo, Newmont Africa’s Chief Finan­cial Officer, highlighted the com­pany’s unwavering commitment to transparent tax practices.

He said, “Newmont Africa continues to create value through the consistent and timely payment of taxes, local sourcing, investing in community development ini­tiatives, and the creation of direct and indirect jobs.”

“We understand the value of contributing to the communities we operate in. Through our foun­dations and the direct financial injection by our two operations, we have made significant in­vestments in the health sector, security services, education, and infrastructure in our host communities, demonstrating our commitment to creating value from our business operations,” Mr Addo-Yobo said.

Over the years, Newmont Africa, he said, had proven itself as a responsible corporate entity, consistently fulfilling its tax obli­gations, and also contributing to the growth of Ghana’s economy.

The company, he said, was committed to both fiscal respon­sibilities and community better­ment, serving as an example of how mining companies can play a pivotal role in driving positive change.


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