It is a great pleasure for me to make this few opening remarks at this important workshop on the implementation of the Guidelines for the utilization of the Minerals Royalties that government sends back to districts and communities impacted by mining.

Newmont last year retained in Ghana almost 80% of its earnings from gold sales

Newmont Ghana has announced that almost 80% of its earnings from gold sales were retained in the country in 2012, contrary to some recent claims.

The earnings retained in Ghana were spent on corporate taxes, local contractors and vendors, wages and benefits and land access. The remaining 20% was spent on offshore debt payments, heavy equipment and other offshore purchase.

The Newmont Ahafo Development Foundation (NADeF) has earmarked GHS 2,5 8 0,2 4 8 toward the development of Gyedu, a mining community within the Ahafo Project of Newmont Ghana Gold Limited at Kenyasi in the Asutifi North District of Brong-Ahafo. The amount is meant for the provision of social facilities, infrastructure and other human resource development in the community with a population of more than 8,000 people, who are mainly farmers.

The Asantehene, Otumfuo Osei Tutu II, has urged the Minerals Commission and Environmental Protection Agency (EPA) to stop the devastation of the nation's forests and water bodies through mining. He said the two bodies needed to step up their supervisory and monitoring roles to make sure that the right things were done and check the recklessness. He faulted the two institutions for not doing enough to properly supervise and monitor small-scale miners, particularly, those operating in the hinterlands.