Business Journalists laud Newmont’s Akyem Development Foundation Project


The “Journalists for Business Advocacy” (JBA) group, has lauded Newmont Golden Ridge Limited, for their commitment to improving the economic lives of communities in the catchment area of the Akyem Mine.

The journalists, as part of activities for the year, were touring the Akyem Mine areas to acquaint themselves with the mining operations of Newmont Golden Ridge Limited at New Abirem in the Eastern Region.

The JBA is an advocacy group made up of journalists committed to advocating for small and medium-scale enterprises that are usually marginalized in the world of business.

Speaking on behalf of the JBA after the tour, Mr Suleiman Mustapha, the General Secretary, expressed satisfaction about the establishment of the Newmont Akyem Development Foundation (NAkDeF), in which for every ounce of gold sold, a dollar is deposited towards the development of the mining communities.

“As journalists for business advocacy, we are highly impressed about the fact that much of the funds from the Foundation are being channelled into enhancing the economic skills of the community members, as well as improving small and medium-scale enterprises in the mining area,” he said.

Mr Mustapha was happy about the provision of two smokeless stoves with working shed for oil palm processors, which sustains the economic life of the community members, especially women.

He urged the company not to relent in its good works for the communities.

The NAkDeF, set up by Newmont and the Akyem communities, has been registered as a limited liability company to establish and manage development projects in the mining communities.

According to Mr Felix Appoh, the Senior Manager for Sustainability and External Relations, the NAkDeF seeks to promote the type of development, which responds to the people’s needs, as well as represents their goals, objectives and priorities.

He said the Foundation has a seven‐member Sustainable Development Committee (SDC) for each of the 10 communities, funds sustainable  development  projects, including educational  scholarships  to  secondary,  vocational  and  tertiary    institutions, infrastructural  and  social  amenities,  youth  development  and  promotion  of  culture, business development and economic empowerment.

The Foundation, which was established in 2014, has a total revenue of GH₵ 12,773,086 being from the one dollar per ounce of gold sold and returns on investment.

The programmes being executed under the Foundation for 2015 include the training of over 100 community persons with skill development, and the establishment of  a micro-credit scheme in eight of the 10 mining communities.

The Foundation has among other projects, contributed to the improvement of roads in three communities, as well as the granting of educational scholarships to over 400 students this year.

Source: GNA

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