Newmont’s Business Unit in Africa has revealed that, during the first quarter of 2024, its Ghana operations paid a total of GH₵ 1.295 billion in taxes, royalties, levies, and carried interest to the Government of Ghana, through the Ghana Revenue Authority, Forestry Commission, and the Ministry of Finance.
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This follows the recent disclosure of its full-year fiscal payment for 2023 to the Government of Ghana, where its operations in Ghana disbursed GH₵ 3.965 billion; marking a 43.6% surge in fiscal payments compared to the same period in 2022.
In the first quarter of 2024, Newmont’s Ahafo South operation contributed GH₵ 1.105 billion, while its Akyem operation contributed GH₵ 190 million.
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From January to March 2024, the breakdown indicates that Newmont paid a total of GH₵ 672 million as Corporate Tax; GH₵ 291 million as Mineral Royalties; GH₵ 99 million as Pay-As-You-Earn; GH₵ 97 million as Withholding Tax; GH₵ 122 million as Carried Interest; and GH₵ 14 million as Forestry Levy.
In Ghana, Newmont is making progress on its Ahafo North project, comprising four open pit mines and a standalone mill situated around 30 kilometers from our Ahafo South operation. The project is anticipated to increase production in Ghana by approximately 300,000 ounces per year.
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