Ghana gets $220m from Newmont's $1billion Sale of Akyem Mine

The government has received a $174 million capital gains tax payment from Newmont Corporation. This payment follows the sale of its Akyem Mine, valued at nearly $1 billion. It represents a large part of the estimated $220 million tax liability from this transaction.

In addition, Newmont provided a separate $50 million cheque to the government. This amount reflects Ghana’s carried interest in the deal.

At a brief ceremony in Accra, Finance Minister Dr. Cassiel Ato Forson accepted the payments on behalf of the state. He praised Newmont for its tax compliance and transparency.

Dr. Forson reminded Newmont about government expectations under the Growth and Sustainability Levy. He urged them to maintain transparency and partnership.

The Finance Minister also assured that the government is committed to addressing infrastructure issues in mining communities. He specifically mentioned the poor condition of the Kumasi–Kenyasi road, which serves mining areas.

Dr. Forson announced that discussions would start immediately with the Ministry of Roads and Highways to fix this road. The project is expected to be completed within 12 to 18 months.

This payment significantly boosts Ghana’s domestic revenue efforts. It shows the government's renewed focus on ensuring resource-based transactions benefit both the state and local communities.