The Government of Ghana has received a major financial boost following the payment of $174 million from Newmont Corporation, representing a significant portion of the capital gains tax owed from the nearly $1 billion sale of the Akyem Mine.
This payment marks one of the largest capital gains tax remittances in the country’s mining history and reflects Newmont’s firm commitment to upholding its fiscal responsibilities in Ghana. The amount is part of an estimated $220 million total tax obligation tied to the transaction.
In a separate gesture, Newmont also presented an additional $50 million cheque to cover Ghana’s carried interest in the deal, further reinforcing the corporation’s ongoing partnership with the Ghanaian government.
The payments were formally received by Finance Minister Dr. Cassiel Ato Forson, during a meeting with a Newmont delegation led by Danquah Addo-Yobo, Head of Finance for the company’s Africa–Canada Business Unit.
Infrastructure Development for Mining Communities
Dr. Cassiel Ato Forson announced that a portion of the revenue will be allocated to long-overdue infrastructure upgrades in mining-impacted areas. A key priority will be the rehabilitation of the Kumasi–Kenyasi road, a vital link that has suffered years of neglect despite its importance to mining operations and local communities.
According to the Finance Minister, consultations with the Ministry of Roads and Highways are set to begin immediately. The planned road works are expected to span 12 to 18 months, signaling swift action to improve living and working conditions in the region.