Heath Goldfields says it has spent approximately GH¢763 million on procurement in its first year of operations, with about GH¢292 million going to businesses within its operational communities of Bogoso, Prestea and surrounding areas.
The investment, according to the company, forms part of efforts to strengthen local businesses and ensure mining activities deliver economic benefits to communities in which it operates.
Managing Director of Heath Goldfields, Patrick Appia Mensah, disclosed this during a visit by the Western Regional Minister, Joseph Nelson, to the mine to assess its progress one year after taking over the previously distressed asset.
He said the company had spent about US$65 million on procurement as of the previous day, representing approximately GH¢763 million.
“So far, we have spent $65 million [USD] as of yesterday’s exchange rates. That is about 763 million in local procurement,” Mr. Appia Mensah revealed. “Out of that, $25.1 million, which is about 292 million [Ghana Cedis], is procurement from the local catchment area: Bogoso, Prestea, Bondai, Simpa, Yiadwom, and Dampo.”
He explained that the expenditure covered mining support services, fuel supply and other operational needs, with the company prioritising businesses within its catchment area.
Mr. Appia Mensah said the company expects to sustain the level of investment throughout its planned 15-year operational period, a move he believes could create further business opportunities and improve livelihoods in the communities.
He also announced a US$20 million investment plan for community development projects in education, healthcare, infrastructure and enterprise development.
According to him, the company has engaged residents through public forums to identify their needs and guide the selection of projects.
“We went to the community, we did a lot of public fora, and they told us what they need,” he said.
The Western Regional Minister, Joseph Nelson, commended the company for its commitment to local content, saying communities must derive greater economic benefits from the natural resources extracted from their areas.
He said the involvement of Ghanaians in the company’s management and its investment in local communities were encouraging signs for the region’s mining sector.
Mr. Nelson also welcomed the company’s investment in underground mining, describing it as a potential game changer for the Western Region.
He expressed hope that the improvements recorded in the company’s first year would be sustained to strengthen mining activities and create more opportunities for resident.
