Newmont’s Ghana Ahafo Mine yields $1.03bn

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Newmont Ghana Gold Limited (NGGL) raked in $1.03 billion returns in 2016, out of which $78 million paid to the government as royalties and taxes, the company has disclosed.

Daniel Egya-Mensah, Acting General Manager of the Mine, said that the multi-national mining company paid $36 million and $42 million dollars as royalties and taxes respectively, adding $363 million was also spent in the Ghanaian economy.

Interacting with members of the Journalists for Business Advocacy (JBA) at the Company’s Plant site at Kenyasi in the Asutifi North District of the Brong-Ahafo Region, the Acting General Manager said $75 million was also paid in employee wages and benefits.

Currently, the Ahafo Mine is producing between 315,000 and 345,000 ounces of gold annually, and production is expected to jump to around 550,000 and 600,000 ounces by 2018.

Mr. Egya-Mensah explained that NGGL’s ability to explore, develop and operate mines near communities around the world depended on its ability to do so in a manner that created social and economic benefits in the surrounding communities.

Meanwhile, Okyere Yaw Ntrama, the Mine Manager, said the Company had started underground mining at the Subika pit, which adds 150,000 to 200,000 ounces of gold to its annual production.

The visit to the mine was organized by the JBA with support from the Ghana Chamber of Mines.

 

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