Gold Fields Ghana says it has directed 93% of its procurement spending to Ghana over the past five years, as the company opens its third suppliers conference with a focus on strengthening local businesses and building supply chains that can endure beyond mining.
The company, according to its records, has invested $4.26 billion in local procurement, including $2.59 billion spent with businesses in its host communities. It has also engaged and supported nearly 100 community vendors.
The two-day event, running from today at the Akoon Clubhouse at Tarkwa Mine and ending on Thursday, October 29, is expected to bring together more than 300 local and international suppliers under the theme “Partnership for Enduring Value: Building Resilient Supply Chains Beyond Mining“.
The figures put local procurement at the centre of the company’s economic contribution, while raising questions about how supplier relationships can translate into lasting business capacity, jobs and economic activity in mining communities.
Sustained access to mining contracts can, for local suppliers, create opportunities to expand operations, develop technical expertise and serve larger markets. But the longer-term value depends on whether businesses can build capabilities and diversify their customer base beyond the mining companies they supply.
Gold Fields says the conference builds on earlier events focused on sustainable supply chains and environmental, social and governance principles. Its first conference centred on achieving a sustainable supply chain through partnerships, while the second focused on embedding ESG principles in supplier relationships.
This year’s theme shifts the emphasis toward enduring value and the development of resilient supply chains. The company says the aim is to move from sustainability commitments toward lasting shared value and the growth of Ghanaian businesses.
The economic impact of that approach depends not only on the volume of procurement spending but also on how much value is retained locally, the competitiveness of Ghanaian suppliers and their ability to continue operating as mining needs change.
The conference therefore places supplier development and local economic participation alongside the broader sustainability question of how mining-related businesses can remain viable beyond the life of a mine.
