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Newmont Ghana pays over Gh?9.3m to development foundation

  • SOURCE: | qwesa2big
  • NEWMONTThe Newmont Ahafo Development Foundation (NADeF) has received over Gh₵9.3 million from Newmont Ghana Gold Limited (NGGL) as the company’s 2012 contribution to the Foundation.

    The mining giant has contributed a total Gh₵28.9 million ($17 million) to NADeF since its establishment in 2008. Newmont contributes $1.00 per ounce of gold produced and one per cent of its annual net profit to the Foundation.

    “The fulfilment of this promise shows Newmont’s commitment to supporting sustainable community development among the host communities”, said Paul Sowley, the General Manager of Environment and Social Responsibility of Newmont Ahafo Mine.

    The support targets ten communities in the Asutifi North and Tano North Districts of the Bono Ahafo Region.

    The NADeF has six main thematic areas of development, including Human Resources Development, Economic Empowerment, Infrastructural Development and Social Amenities. Others are Cultural Heritage and Sports, and Protection of Natural Resources.

    The Foundation has completed and handed over about 43 infrastructural and social amenities including community libraries, teachers’ and nurses’ quarters, ICT centres and schools.

    Members of the communities have also benefited from scholarship and apprenticeship programmes, accessed micro credit and support for business start-up.

    Board Chairman of NADeF, Kwame Saarah-Mensah, expressed appreciation to Newmont in fulfilling its commitment to development in the Ahafo communities.

    “Ahafo especially, the communities under NADeF can attest to the positive development as a result of the establishment of the Foundation by Newmont and the Ahafo Community,” he said.

    A component Fund is invested as an endowment to help continue development projects after life of the mine.

    Source: Joy Business

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