Newmont Corporation, following the nearly $1 billion sale of its Akyem Mine, has paid $174 million in capital gains tax to the government, a significant chunk of the total $220 million tax liability from the deal.
At a brief but impactful ceremony in Accra, Finance Minister Dr. Cassiel Ato Forson accepted the payment on behalf of the government. He also received a separate $50 million cheque from Newmont, representing Ghana’s carried interest in the transaction.
“This is not just about money,” Dr. Forson said. “It’s about transparency, responsibility, and ensuring that resource transactions benefit all Ghanaians.”
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Dr. Forson praised Newmont for its compliance and commitment to fair practice, urging the company, and others in the sector, to remain transparent and committed under Ghana’s Growth and Sustainability Levy. He also used the moment to address one of the long-standing concerns of mining communities: neglected infrastructure.
He specifically mentioned the poor state of the Kumasi–Kenyasi road, a lifeline for communities heavily affected by mining activities. According to Dr. Forson, formal discussions with the Ministry of Roads and Highways are set to begin immediately. The goal? A fully rehabilitated road within the next 12 to 18 months.
This development isn’t just good news for the national treasury, it’s a reminder that mining deals should deliver more than just exports. They should translate into better roads, schools, healthcare, and real impact for the people living closest to the source of the wealth.
As Ghana ramps up efforts to tighten tax compliance and boost domestic revenue, this payment from Newmont is both a win and a wake-up call.
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