Newmont Pays $174 Million to Ghana as Part of Capital Gains Tax on Akyem Mine Sale
Finance Minister Dr. Cassiel Ato Forson receives $174 million from Newmont as part of capital gains tax on the $1 billion Akyem Mine sale. An additional $50 million was paid for Ghana's carried interest.
Finance Minister Dr. Cassiel Ato Forson has announced that the Government of Ghana has received $174 million from Newmont Corporation as part payment of capital gains tax following the sale of the company’s Akyem Mine, which was valued at nearly $1 billion.
Dr. Forson made the announcement after receiving a delegation from Newmont, led by Mr. Danquah Addo-Yobo, Head of Finance for Newmont’s Africa–Canada Business Unit.
In addition to the tax payment, Newmont presented a separate cheque of $50 million to cover Ghana’s carried interest in the transaction, pushing the total payment made to the state to $224 million so far—out of a projected $220+ million in dues from the sale.
“I commend Newmont for their good faith and commitment to upholding tax obligations,” Dr. Forson stated, emphasizing the importance of transparency and cooperation in Ghana’s extractive sector.
During the meeting, the Finance Minister reminded the delegation about the Growth and Sustainability Levy, urging them to continue honoring their responsibilities to the Ghanaian people.
On infrastructure, Dr. Forson pledged swift action to improve roads in mining communities. He announced that plans are underway to collaborate with the Ministry of Roads to begin construction on the Kumasi–Kenyasi road, with a timeline of 12 to 18 months.
This development marks a significant financial gain for Ghana and signals a renewed focus on reinvesting mining revenue into community infrastructure and national development.
