Gold Fields Ghana has remitted GH₵5.77 billion to the Government of Ghana in 2025, reinforcing its position as one of the largest corporate contributors to the national economy through taxation, royalties, and dividends.
The mining company, which operates the Tarkwa and Damang mines in the Western Region, disclosed the figures under the publish what you pay transparency framework designed to promote accountability in the extractive sector. The payments comprise corporate taxes, royalties, dividends to the state, withholding taxes, Pay-As-You-Earn (PAYE) deductions, and withholding Value Added Tax (VAT).
Corporate taxes formed the largest component at GH₵2.9 billion, with Tarkwa Mine contributing GH₵2.5 billion and Damang Mine adding GH₵338.9 million. These payments represent a substantial boost to domestic revenue as the government intensifies efforts to reduce reliance on external borrowing.
Royalties paid by the company reached GH₵1.2 billion, with Tarkwa contributing GH₵1 billion and Damang GH₵201.7 million. Mining royalties, calculated as a percentage of gross revenue, provide steady government income regardless of profitability cycles and remain a critical revenue stream for mineral rich districts.
Dividend payments to the government, reflecting the state’s 10 percent equity participation in the mines, totalled GH₵705.1 million. Tarkwa accounted for GH₵552.6 million whilst Damang contributed GH₵152.4 million. These dividends represent direct returns to Ghanaians as shareholders in the country’s mineral wealth.
Withholding taxes paid during the year stood at GH₵453 million, comprising GH₵344.3 million from Tarkwa and GH₵108.6 million from Damang. The company remitted GH₵311.3 million in PAYE taxes on behalf of its workforce, with GH₵240.8 million from Tarkwa and GH₵70.5 million from Damang.
Gold Fields also paid GH₵207.3 million in withholding VAT, made up of GH₵158.1 million from Tarkwa and GH₵49.2 million from Damang.
Beyond direct fiscal contributions, Gold Fields spent GH₵8.8 billion on procurement within Ghana in 2025, demonstrating its commitment to local content development. Of this amount, GH₵6.5 billion worth of contracts were awarded to 163 suppliers from host communities around Tarkwa and Damang.
The procurement spending supports thousands of indirect jobs across logistics, engineering services, catering, civil works, security, and ancillary industries whilst strengthening Ghanaian businesses to build capacity and compete globally.
Gold Fields reports that 70 percent of its employees are drawn from host communities, ensuring income from mining activities remains within surrounding towns and districts, supporting household livelihoods, retail trade, housing, and social services.
The company invested GH₵61.75 million in socio-economic development projects in host communities during the year. These investments span infrastructure, education, healthcare, water and sanitation, and livelihood support initiatives.
The integration of Environmental, Social and Governance (ESG) principles into operations signals an evolving approach to responsible mining. The company continues to embed sustainability, innovation, and community development into its operational model, aligning with global best practice and investor expectations.
At the macroeconomic level, Gold Fields’ operations contribute to Ghana’s foreign exchange earnings, strengthen export receipts, and support the stability of the cedi. Gold remains Ghana’s leading export commodity, generating $20.9 billion in export revenues for the country in 2025, according to Bank of Ghana data.
The GH₵5.77 billion in direct fiscal contributions combined with procurement spending of GH₵8.8 billion within Ghana means the total measurable economic footprint of Gold Fields in 2025 exceeds GH₵14 billion.
Gold Fields management described the remittances as reflective of sustained investment at Tarkwa and Damang mines and a commitment to fuelling national growth. The publish what you pay disclosure reinforces public accountability and strengthens confidence in the governance of mineral resources.
Michael Edem Akafia, President of the Ghana Chamber of Mines and Vice President of External Affairs at Gold Fields West Africa, stated during an interaction with media fellows on Monday that whilst Gold Fields returned approximately $5 billion to Ghana in 2024, much of that expenditure quickly left the economy through imports.
The mining sector contributed approximately GH₵17.7 billion in fiscal revenues in 2024, representing a 51.2 percent increase over the previous year and accounting for 24.3 percent of direct domestic taxes.
