Dr Ato Forson receives $174 million capital gains tax payment from Newmont Corporation
The Minister of Finance, Dr Cassiel Ato Forson, has stated that the government has received a $174 million capital gains tax payment from Newmont Corporation, following the mining giant’s sale of its Akyem Mine, which was valued at nearly $1 billion.
The amount constitutes a substantial portion of the estimated $220 million tax liability from the transaction.
Newmont also presented a $50 million cheque to the government representing Ghana’s carried interest in the deal.
At a brief ceremony in Accra, Dr Ato Forson received the payments and lauded Newmont for its tax compliance and transparency.
“I use this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and urge you to continue in the spirit of transparency and partnership,” Dr Forson said.
He also gave assurances of government’s commitment to addressing long-standing infrastructure concerns in mining communities.
He made specific reference to the poor state of the Kumasi–Kenyasi road, a critical route serving areas affected by mining activities.
Dr Forson declared that formal discussions would begin immediately with the Ministry of Roads and Highways to rehabilitate the road, adding that the project is expected to be completed within 12 to 18 months.
SP/VPO
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