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Gold Fields Ghana has paid over $1.2bn in taxes since 1998 - Daily Guide

Friday, 6 July 2018

Gold Fields Ghana Limited, a gold mining company, has paid over $1.2 billion in corporate taxes and royalties since it started production in Ghana in 1998.

The royalties to the state, according to the company, were in excess of $100 million.

The gold mining company has also committed approximately $44 million to the development of its host communities in the areas of health, education, infrastructure, water and sanitation, agriculture and agribusiness.

The Gold Fields Board in 2016 approved a $1.4 billion capital injection that transformed the company’s Damang Mine in the Western Region along with the fortunes of the mining communities.

Alfred Baku, Executive Vice President and Head of West Africa, Gold Fields, revealed this at the 25th Anniversary Stakeholders’ Durbar of the gold mining company in Tarkwa last Friday.

He noted that Gold Fields had been recognized by the Ghana Revenue Authority (GRA), as well as Ghana Investment Promotion Centre, among others, for its compliance and contribution to national development.

He indicated the mining company was rehabilitating the 33 kilometer Tarkwa-Damang Road at cost of $21 million and that the project was progressing steadily, adding “we expect it to be completed by December.”

Mr Baku noted that as part of the anniversary celebration, the mining company had decided to upgrade the Tarkwa and Aboso (T&A) Park in Tarkwa into a modern sports facility to match the status of a gold-rich town.

“The second project which we are equally excited about is the plan to extensively rehabilitate the Tarkwa Apinto Government Hospital.”

“We intend to turn the edifice into first class medical facility and a model for quality health care delivery in the country,” he added.

Member of Parliament (MP) for Tarkwa-Nsuaem, Mireku Duker mentioned that Gold Fields has been a shining example of how mining could be done sustainably to benefit government and communities.

He, however, challenged management of Gold Fields to take the lead in ensuring that the manufacturing sector plays a prominent role in the supply chain.

“With employment being a challenge, especially in mining communities, the supply chain of mining companies offers tremendous opportunities for reducing social tension in communities through employment and income generation,” he added.

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