Newmont Ghana Gold Limited pays GH₵9.4bn in taxes for 2024 

The management of the Ahafo South Mine, part of Newmont Africa, is optimistic about future revenue. They aim to improve the socioeconomic status of local communities by 2025. In 2024, the mine contributed over GH₵7.5 billion in taxes. This was part of a total of GH₵9.4 billion from Newmont's three operating mines in Ghana.

Recently, the Parliamentary Select Committee on Lands and Natural Resources visited Newmont Ghana Limited. The visit aimed to assess operations at Ghana’s largest gold producer. In 2024, the company produced around 800,000 ounces of gold, its highest since starting in 2006. Overall, it has produced a total of 9.6 million ounces.

Newmont Ghana paid approximately GH₵9.4 billion in taxes last year. The Ahafo South mine alone contributed GH₵7.5 billion. General Manager Alex Kofi Annin noted that this year’s production would be about 600,000 ounces.

However, illegal mining poses significant challenges for the company and local communities. Mr. Annin emphasized that illegal mining endangers lives and disrupts operations. He stressed the need for a safer working environment and adherence to regulations.

The government plans to increase the Growth and Sustainability Levy on mining from 1% to 3%. The Ghana Chamber of Mines opposes this increase, citing potential negative impacts on the sector. They have formally petitioned Parliament to reconsider this proposal.

Acting CEO Ahmed Nantogmah stated that discussions with Parliament are ongoing regarding the levy increase. He hopes for a solution that allows mining companies to remain viable while continuing tax payments—benefiting both parties involved.