Newmont Ghana Records $536m Economic Value

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Newmont Ghana generated $536 million of economic value in 2017, the miner has said in its 2017 sustainability report, known as ‘Beyond the Mine’.

Out of the amount, $89.7 million was paid in employee wages and benefits, $62.3 million in taxes, $35.1 million in government royalties, and $4 million in voluntary community investments, the report added.

Alwyn Pretorius, Regional Senior Vice President of Newmont Africa’s Operations, indicated that the company purchased $16.8 million in goods and services from local businesses and $325.2 million from other Ghanaian suppliers.

Additionally, he noted that at the end of 2017, local community members represented 40.2 percent and 46.4 percent of the total workforce (inclusive of contractors) at its Ahafo and Akyem mines, respectively, exceeding the company’s target of 35 percent at both sites.

Commenting on Newmont’s priorities going forward, Mr.

Pretorius said mining to create social and economic benefits remains a top priority for the company. “Over the years, we have strived, through our cherished values of safety, integrity, sustainability, inclusion and responsibility, to create long-term value and improve lives through sustainable and responsible mining.”

“As a business,” he adds that, “we believe that operating responsibly throughout the mine lifecycle creates shared value for all stakeholders. Our Beyond the Mine sustainability report, published each year, details the Newmont Africa region’s safety, economic, social and environmental performance. I am pleased once again to share with you the 2017 sustainability report for Newmont Africa”.

On the performance of the company in 2017, he said Newmont made significant strides last year. “However, we experienced a tragic construction accident in April 2018 at our Ahafo Mill Expansion project site. We cooperated fully with Ghana’s Minerals Commission on its investigation. The company is taking steps to address the report findings to prevent this from ever happening again.”

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