The Ghanaian government has secured a capital gains tax payment of $174 million from Newmont Corporation, following the company’s sale of its Akyem Mine, which was valued at nearly $1 billion. This amount represents a considerable portion of the estimated $220 million tax obligation arising from the transaction.
In addition to the tax payment, Newmont has also issued a $50 million cheque to the government, reflecting Ghana’s carried interest in the sale.
During a brief ceremony held in Accra, Finance Minister Dr. Cassiel Ato Forson accepted the payments on behalf of the state and commended Newmont for its adherence to tax regulations and its transparent practices.
“I take this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and I encourage you to maintain the spirit of transparency and partnership,” Dr. Forson stated.
The Finance Minister further reaffirmed the government’s dedication to addressing longstanding infrastructure issues within mining communities. He specifically highlighted the deteriorating condition of the Kumasi–Kenyasi road, a vital route for areas impacted by mining operations.
Dr. Forson announced that formal discussions would commence immediately with the Ministry of Roads and Highways to rehabilitate the road, indicating that the project is anticipated to be completed within 12 to 18 months.
This payment represents a significant enhancement to Ghana’s domestic revenue initiatives and underscores the government’s renewed commitment to ensuring that resource-based transactions yield tangible benefits for the nation and its communities.
