Newmont
Newmont Akyem Concession Is Illegal-donkor

By: Paa Kwesi Agyefi

Newmont Ghana has observed that their operations in the country has helped create numerous jobs and Economic Development.

NewmontAccording to a statement on the company?s website a recently released national and regional socio-economic impact assessment found that the Ahafo mine since its inception in 2006 has directly and indirectly provided 41,000 jobs in Ghana representing 0.39 percent of the total labor force in Ghana, of which 1,921 jobs are directly attributable to Newmont Ghana Gold Limited (GGL) (0.02 percent of Ghana?s total labor force).

The statement said their mines was a major contributor to Ghana?s economy, generating nearly 18.8% of the nation?s total gold revenue and US$ 360 million value added in terms of economic activity representing 0.9% of Ghana?s GDP.
The Ahafo mines, it continued, directly contributes US$160 million to government tax income (2.56 percent of national tax revenues), US$39 million to household incomes and US$31 million as carried interest income to the government.

Although the economic activity generated by NGGL is the most notable impact on the district, according to the report, the Newmont Ahafo Development Foundation (NADeF) is most likely to improve the overall socio-economic conditions in the communities most affected by the Mine.

The NADeF is a community development foundation established and supported by NGGL, with one percent of NGGL?s after-tax profit and US$1 for every ounce of gold sold.

Since NADeF?s establishment in 2008, NGGL has contributed almost US$13 million to the Foundation.
NADeF?s invests 10 percent of NGGL?s contribution into a capital endowment, with the remainder spent on skills development, infrastructure, social amenities, economic empowerment, natural resource management, cultural heritage and sports activities for local communities.

So far, the foundation has spent about US$9 million on scholarships and projects like the building of schools, community houses, water boreholes, and the provision of tools and equipment.
The statement indicated that NGGL continues to make a positive impact in the Asutifi District of the Brong Ahafo region in Ghana where its mine is located.

The mine generates about eight percent of value added and employs approximately 10 percent of the workforce in the region.

In addition, social amenities and services that were non-existent before the mine have been developed and continue to be supported through the Newmont Ahafo Development Foundation.

Newmont?s also has a second mine, operated by NGGL?s sister company, Newmont Golden Ridge Limited, which started operations in Akyem in the Eastern Region in 2013.

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