The Government of Ghana has received a $174 million payment from mining giant Newmont as part of a capital gains tax following the sale of its Akyem Mine.
The mine, located in the Eastern Region, was sold in a deal valued at nearly $1 billion.
In addition to the tax payment, Newmont also handed over a $50 million cheque representing Ghana’s carried interest in the transaction.
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, received the cheques during a meeting with a Newmont delegation led by Danquah Addo-Yobo, Head of Finance for the Africa–Canada Business Unit.
Dr. Forson praised the company for honouring its tax responsibilities.
“I use this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and urge you to continue in the spirit of transparency and partnership,” he said.
He also announced that the government will begin work on long-delayed infrastructure projects in mining areas, particularly the Kumasi–Kenyasi road.
Discussions with the Ministry of Roads are set to begin immediately, with construction expected to take between 12 and 18 months.
Source: Ministry of Finance
