Minister for Finance, Dr. Cassiel Ato Forson, has announced that the Government of Ghana has received a cheque for $174 million from Newmont Corporation as part payment of capital gains tax following the sale of the company’s Akyem Mine.
According to a post shared on his official Facebook page on Wednesday, Dr. Forson stated that the $174 million represents a substantial portion of over $220 million owed to the state from the transaction, which he noted was valued at nearly $1 billion.
The cheque was presented by a Newmont delegation led by Mr. Danquah Addo-Yobo, Head of Finance for the Africa–Canada Business Unit of the company.
In addition to the capital gains tax payment, Dr. Forson stated that Newmont presented a separate $50 million cheque representing Ghana’s carried interest in the transaction.
“I commend Newmont for its good faith and commitment to upholding its tax obligations,” the Finance Minister wrote. He further indicated that he reminded the delegation of government’s expectations under the Growth and Sustainability Levy, urging them to maintain transparency and partnership going forward.
Dr. Forson also assured the Newmont delegation of the government’s resolve to address infrastructure challenges in mining communities. He disclosed that he will engage the Ministry of Roads and Highways to begin work on the Kumasi–Kenyasi road, with construction expected to span 12 to 18 months.
