The Government of Ghana has received a $174 million payment from Newmont as part of the capital gains tax related to the sale of the Akyem Mine, valued at nearly $1 billion. This payment is a substantial portion of the estimated $220 million due from this transaction.
In addition to the tax payment, Newmont also provided a separate $50 million cheque, representing Ghana’s carried interest in the deal.
Finance Minister Dr. Cassiel Ato Forson welcomed the delegation from Newmont, led by Danquah Addo-Yobo, Head of Finance for the Africa–Canada Business Unit. He praised Newmont for its commitment to tax compliance and expressed expectations regarding future obligations.
“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,” stated Dr. Forson.
The Finance Minister also promised that the government would address infrastructure issues in mining communities, specifically mentioning improvements needed on the Kumasi–Kenyasi road.
He announced that discussions with the Roads Ministry would commence immediately, with construction expected to take 12 to 18 months.