Newmont Pays Over Gh¢9.3m. TO NADeF

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By Alhaji Bashiru Zakari

Newmont Ghana Gold Limited (NGGL), has paid a total of GH¢9,347,247.38 to Newmont Ahafo Development Foundation (NADeF) as the company’s 2012 contribution to the Foundation.

The payment brings the total contribution from Newmont to NADeF, since the Foundations establishment in 2008 to GH¢28.9, S17m (seventeen million US Dollars.)

Newmont contributes USS1.00per ounce of gold produced and one percent of its annual net profit to the Foundation.

According to the General Manager of Environment and Social Responsibility (ESR) of Newmont Ghana Gold Limited (Ahafo Mine), Paul Sowley, in presenting the advisory note for the payment said, Newmont was ever committed to the sustainable development of communities around the Ahafo mine.

“The fulfillment of this promise shows Newmont’s commitment to supporting sustainable Community development among ten host communities,” he added.

He made it clear that the Foundation was community driven by sustainable Development Communities of the ten (10) Communities in the operational area, which has six main thematic area of development.

He mentioned Human Resource Development – scholarships and apprenticeships, Economic Empowerment–micro-credit, business start-up, Infrastructural Development, Social Amenities, Cultural Heritage and Sports, and Protection of Natural Resources.

“Mr. Sowley disclosed that as at now NADeF has completed and handed over about 43 infrastructural and social amenities including community libraries teachers’ and nurses quarters, ICT centers and schools among others.
The Board chairman of NADeF, Kwame Saarah-Mensah, who received the note on behalf of the Foundation, expressed appreciation to Newmont in fulfilling its commitment to development in the Ahafo Communities.

He said, these contributions are used to provide basic needs of the communities particularly libraries, schools, clinic, electricity, water facilities, scholarships, micro-credits among others.

“Ahafo especially the communities under NADeF can attest to the positive developmental as a result of the establishment of the Foundation by Newmont and the Ahafo Communities”. He added.

Mr. Saarah-Mensah said, NADeF as a community development foundation has been acclaimed internationally as an initiative worthy of emulation.

NADef was established in May 2008 following two years of engagement with the Ahafo Social Responsibility Forum (ASRF), a key stakeholder group of Newmont Ahafo Mine.

NADeF was designed as a mechanism to manage Newmont’s sustainable community development commitment to its ten host communities.

These are: Kenyase No. 1. Kenyase No. 2, Ntotroso, Gyedu and Wamahinso in the Asutifi North District as well as Yamfo, Susuanso, Afrisipakrom, Terchire and Adrobaa in the Tano North District.

The Foundation is funded with US$1.00 of every ounce of gold sold and 1per cent of annual net pre-tax profit from the operations of Newmont Ghana Gold Limited (Ahafo Mine)

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

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