Newmont pays GHc45 million for removal of 8,000 illegal structures to pave way for $850m Ahafo North Project

By Reporter
Business & Finance Newmont pays GHc45 million for removal of 8,000 illegal structures to pave way for 850m Ahafo North Project
AUG 3, 2022 LISTEN

Newmont African has reached an agreement with stakeholders to resolve challenges hampering the progress of its $850 million Ahafo North Project.

The company has concluded discussions with the government, traditional authorities, and community stakeholders and commenced payment for the removal of over 8,000 speculative unauthorised structures in the $850 million Ahafo North Mining Project.

An Inter-Agency Committee led by the Deputy Minister of Lands and Natural Resources responsible for mining and the Ahafo Regional Minister, with the support of officials from the Minerals Commission, Environmental Protection Agency, and Newmont Africa, led the discussion to commit GHc45 million in relief payment with community leaders and representatives of the unauthorised structures in the project area.

“The agreed one-off payments will promote community peace and security of the Ahafo North Project. We will not tolerate any further development of unauthorized structures which adversely affects company-community relations and discourages mining investment in the country,” Hon. George Mireku Duker, (MP) said.

He added that government is hopeful the project would commence soon and create significant value including employment, business opportunities, infrastructure, and socio-economic development as well as increased revenue in taxes, royalties, and forex inflows.

On his part, Hon. George Boakye, the Ahafo Regional Minister said, “though the structures were unauthorized, Newmont had agreed to government’s recommendation to offer a relief payment package in the interest of peaceful co-existence with its host communities.” He added that he was certain that the Project would commence soon and create local employment, community development, and business opportunities.

The Newmont Corporation Board of Directors approved full funds for Ahafo North Project in July 2021.

David Thornton, Regional Senior Vice President, Newmont Africa Operations said the company is “committed to collaborating with the government, our host communities and other stakeholders to ensure the Ahafo North Project will continue and create sustainable value along with opportunity for all stakeholders.”

Newmont Africa has expressed appreciation to the Ghana government, the Asantehene, Nananom, regulators, traditional authorities, youth leaders, and community stakeholders for their collaboration in agreeing to a long-term sustainable outcome to commence sustainable development of the Ahafo North Project.