Newmont Corporation has made a significant capital gains tax payment of $174 million to the Government of Ghana, following the nearly $1 billion sale of its Akyem Mine. The amount forms part of a total estimated $220 million tax obligation from the transaction. The company also handed over an additional $50 million representing Ghana’s carried interest in the deal.
The announcement was made during a formal presentation to Finance Minister Dr. Cassiel Ato Forson, who praised Newmont for its transparency and strong tax compliance.
“I use this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and urge you to continue in the spirit of transparency and partnership,” Dr. Forson stated during the meeting, attended by Danquah Addo-Yobo, Head of Finance for Newmont’s Africa–Canada Business Unit.
The government plans to reinvest part of the tax revenue in critical infrastructure within mining communities, with a key focus on the long-neglected Kumasi–Kenyasi road, a vital route connecting resource-rich areas to the rest of the country.
Dr. Forson assured Newmont of the government’s commitment to addressing infrastructure challenges, noting that discussions with the Roads Ministry would begin immediately. He revealed that construction of the road is expected to commence soon, with completion targeted within 12 to 18 months.
The deal signals a notable step forward in revenue mobilization and equitable resource distribution, as Ghana aims to turn mining windfalls into long-term development for host communities.
