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Gold Fields Ghana wins recognition for local development - Business & Financial Times

Wednesday, 13 July 2016

Gold Fields Ghana Limited (GFGL), operators of the Tarkwa gold mine – the nation’s largest gold mining operation – has been recognized for its support to the growth and development of local businesses in the mining supply chain.

At the Ghana Extractive Industry Safety Conference (GEICon 2016) organized by the Sekondi-Takoradi Chamber of Commerce and Industry (STCCI), a local content award was presented to Gold Fields for the company’s commitment to building the capacities of local companies to be meaningfully engaged in the mining industry.

GFGL, the largest tax payer in the mining sector, contributes significantly to the Ghanaian economy beyond the tax, royalties, and dividend payments. The company also invests heavily in the Ghanaian economy through local procurement. Products and supplies such as fuel, lubricants, medical services, grinding media, catering, haulage, etc. are all procured locally, and represent over 60 percent of the company’s total procurement spend. In 2015, over 400 million GHS was paid to local business partners, and from January to June 2016, almost 200 million has already been spent.

Mr. Alfred Baku, Executive Vice President and Head of West Africa for Gold Fields said, “our company strongly believes that Ghana will benefit immensely if the mining industry is strategically used to catalyse the growth of other allied sectors. Strengthening the local supply chain is an important feature of this strategy and Gold Fields Ghana will continue to provide leadership on this front to ensure that Ghanaian businesses remain competitive and significant players in the mining value chain.”

GFGL’s idea of building local capacity is not restricted to only suppliers, but also extends to labour and local expertise. Over 99 percent of GFGL’s employees are Ghanaians, and the company has a plan in place to train and maintain a pipeline of skilled labour in the surrounding communities

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