The Ghanaian Government has received $174 million as capital gains tax payment from Newmont Corporation, following the mining giant’s sale of its Akyem Mine, which was valued at about $1 billion.
The amount constitutes a substantial portion of the estimated $220 million tax liability due from the transaction.
In a separate payment, Newmont also presented a $50 million cheque to the government, representing Ghana’s carried interest in the deal.
According to the report by Daily Graphic, Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, received the payments in Accra on behalf of the state and lauded Newmont for its tax compliance and transparent conduct.
“I use this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and urge you to continue in the spirit of transparency and partnership,” Dr. Forson said.
The Finance Minister assured of government’s commitment in addressing long-standing infrastructure concerns in mining communities, especially the poor state of the Kumasi–Kenyasi road, a critical route serving areas affected by mining activities.
Dr. Forson announced that formal discussions would begin immediately with the Ministry of Roads and Highways to rehabilitate the road, adding that the project is expected to be completed within 12 to 18 months.
According to the minister, the payment marks a significant boost to Ghana’s domestic revenue efforts and reflects the government’s renewed push to ensure that resource-based transactions deliver tangible benefits to the state and affected communities.
GIK/APA