Newmont’s Ahafo South Mine maintains position as Ghana’s Best Company

Newmont’s Ahafo South operation in Ghana has maintained its position as Ghana’s Best Company and the leading extractives business in the country.

The accolade was presented to Newmont at the 21^st edition of the Ghana Club 100, which was held on Friday, 25^th October, 2024 at the Palms Convention Centre in Accra.

The company ranking, which recognizes top 100 companies in Ghana for their sustainable operations, growth prospects and social performance, is organized by the Ghana Investment Promotion Centre (GIPC), a government agency responsible for facilitating and promoting investment in Ghana as a preferred investment destination in Africa.

The Akyem operation located in the Birim North District of the Eastern Region improved on last year’s ranking, placing fourth in the overall ranking and third in the extractives sector. Newmont’s operations in Ghana have a decent track record in the ranking, placing in the top ten on multiple occasions. The Akyem Mine previously won the top award in 2015 and 2016 consecutively, and both mines have also been recognized for their investment in social responsibility.

Newmont’s reputation as a responsible mining business in Ghana is well documented, as the mine emphasises safe production, operational excellence, sustainable practices and values-driven stakeholder management. As the world's leading gold mining company, Newmont Corporation’s commitment to environmental stewardship, community development and sustainability is leaving an enduring mark on Ghana's socio-economic development.

The company’s 2024 half-year fiscal payments to the Government of Ghana published in August, stood at GHS 3.176 billion, covering royalties, corporate tax, pay as you earn, carried interest, and levies. The company also supports local businesses through training opportunities, creating opportunities for them to thrive in the host communities.

The awards also highlight Newmont's transformative impact on local communities. This impact extends beyond the mines, reaching the very communities that surround them. At the heart of the Covid 19 pandemic, the company funded the establishment of two PCR laboratories in partnership with Kumasi Centre for Collaborative Research into Tropical Diseases (KCCR) and the Ghana Health Service in the Asutifi North and Birim North districts of the Ahafo and Eastern regions respectively.

Over the years, Newmont has invested over $65 million in its community development Foundations in Akyem and Ahafo that are transforming lives through scholarships, skills training, healthcare infrastructure, and economic livelihood projects. Newmont's recent accolades underscore its role as a global leader committed to reshaping the narrative of the mining industry.

These initiatives also demonstrate the company’s dedication to a future where responsible mining practices become the industry standard, not merely an option.

Source: Newmont