The government of Ghana has confirmed the reception of $174 million as part payment of capital gains tax from Newmont Corporation, an American mining firm, following the company’s recent sale of its Akyem gold mine, located in the Eastern Region of the country.
The transaction has been described by authorities as one of the largest mining-related tax payments in the country’s history.
This development was made known by the Minister of Finance, Dr. Cassiel Ato Forson, in a statement issued on Tuesday in Accra.
Forson disclosed that the $174 million represents a significant portion of the over $220 million due to the government from the divestment deal.
He also confirmed that Newmont presented a separate cheque of $50 million as payment for the country’s carried interest in the transaction.
“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,” the minister stated.
“This represents a substantial portion of the over $220 million due to the state from the transaction,” he added.
In addition, Forson commended Newmont for what he described as a demonstration of “good faith” and adherence to local fiscal obligations.
He said the company’s conduct aligns with Ghana’s expectations for foreign investors operating in its critical sectors, particularly mining.
“I commend Newmont for its good faith and commitment to upholding its tax obligations. This demonstrates not only respect for Ghana’s laws but also the strength of public private partnership in driving national development,” he said.
In recent years, Ghana has intensified efforts to increase revenue from its natural resource sectors, particularly through taxation reforms and regulatory oversight.
The capital gains tax paid by Newmont marks a significant milestone in this drive, as the country works to reduce revenue leakages and hold multinational operators accountable for their fiscal responsibilities.
Industry observers have described the transaction as a positive signal to other global mining firms that Ghana is committed to creating a transparent and investment-friendly environment while also securing fair returns from its natural resources.
Beyond the financial aspect of the Akyem Mine transaction, Forson also addressed the infrastructural challenges facing communities within Ghana’s mining regions.
He stated that the government is already taking steps to improve road networks and other critical infrastructure to support both local development and mining operations.
Ghana, one of Africa’s leading gold producers, continues to position itself as a competitive destination for investment in mining.
However, authorities have maintained that future transactions must prioritise fiscal responsibility, regulatory compliance, and community engagement.
