Newmont Ghana pays GH¢49.6m tax for 2013 third quarter

NewmontNewmont Ghana (Ahafo Mine) on Thursday announced the payment of GH¢49,647,796 ($25,359,064) for the third quarter (July – September) 2013, to the Large Taxpayer Office of the Ghana Revenue Authority (GRA).

The amount represents Corporate Income Tax of GH¢29, 200,572 ($14,905,856), Mineral Royalty of GH¢10,560,296 ($5,407,174), Withholding Tax of GH¢3, 617,451 ($1,854,372) and Pay As You Earn of GH¢6, 269,477 ($3,191,662).

A statement issued by Newmont Ghana Gold Ltd and copied to the Ghana News Agency noted that, Corporate Income Tax and Mineral Royalty payments declined by 24 per cent in 2013 as compared to payments made in same period (January – September)  2012.

It said this was due to lower gold prices and other challenges facing the mining industry in recent times.

“For the first nine months of 2013 alone, Newmont Ghana has paid a total of GH¢201M ($105M) taxes and to date, the company has made total tax payments of GH¢954M (US$588M) to the GRA since it begun production in July 2006.

“Newmont Ghana has also made significant contributions to its Ahafo and Akyem communities.

“In partnership with the International Finance Corporation, Newmont Ghana initiated the Ahafo Linkages Programme (ALP) to create sustainable business opportunities within communities around the Ahafo Mine area,” it stated

The statement said to date, ALP has trained more than 100 local suppliers and entrepreneurs, who contribute to the local economy in the Ahafo mine area.

In addition, it has also provided about 400 local businesses with nearly $39 million in contracts and supporting more than 400 jobs, excluding direct mine employment.

It said recently, MilTrac Ghana Limited, an indigenous Ghanaian company, was adjudged as Newmont Mining Corporation’s 2013 Africa Region Supplier of the Year for its proven commitment to operate safely, reduce operating costs and improve efficiencies.

“This is the first of its kind in the Africa region. Another initiative aimed at equipping locals with employable skills for the youth in our mining area is the Newmont Apprenticeship programme,” it said.

The statement said this programme has trained and employed over 181 locals from Newmont Ghana’s (Ahafo and Akyem) host communities, with an average cost of $17,000 spent on each person during the four-year training period.

“We thank all our employees, contractors and other stakeholders for their contributions towards this achievement,” it said.

Source: GNA

Leave A Reply

Your email address will not be published.