Newmont Pays $174m in Capital Gains to Government

Accra, Ghana - 22 May, 2025 - Ghana's Finance Minister has announced that Newmont, a mining company, has made a substantial tax payment to the government.

The payment, according to him, totals $224 million, comprising $174 million in capital gains tax and $50 million representing Ghana's carried interest, following the sale of Newmont's Akyem Mine for nearly $1 billion.

The Finance Minister commended Newmont for fulfilling its tax obligations and urged the company to maintain transparency and partnership with the government.

The Minister also assured Newmont of the government's commitment to addressing infrastructure challenges in mining communities. As part of this effort, the Minister plans to engage the Roads Ministry to commence work on the Kumasi-Kenyasi road, expected to take 12-18 months to complete.

''I was pleased to receive on behalf of the Government of Ghana, a cheque for $174 million as part payment of capital gains tax following the sale of Newmont’s Akyem Mine. This represents a substantial portion of the over $220 million due to the state from the transaction. Newmont also presented a separate $50 million cheque to the government, representing Ghana’s carried interest in the transaction.

''The sale of the mine was valued at nearly $1 billion. I commend Newmont for its good faith and commitment to upholding its tax obligations. I used the opportunity to remind the delegation of the expectations of government under the Growth and sustainability Levy, and urged them to continue in the spirit of transparency and partnership. Finally, I assured them of government’s resolve to address infrastructure challenges in mining communities.

''As a matter of urgency, I will engage the Roads Ministry to commence work on the Kumasi–Kenyasi road, with an expected construction timeline of 12 to 18 months,'' Dr. Forson on his X account (formerly Twitter).

Source: Lead News Online