Newmont Spent ¢13million on CSR in 2023- Asantehene Informed

The Board Chairman of Newmont Ahafo Development Foundation (NADef), Prof Yaw Ofosu-Kusi has rendered account on his outfit’s activities in the Ahafo Region to the Monarch of the Asante Kingdom, Otumfuo Osei Tutu II.

Delivering a summary of the 2023 report of the Foundation at the Manhyia Palace on January 24, 2025, he said ¢13 million had been spent on 29 different projects.

These projects fall under the Human Resource Development, Economic Empowerment, Social Amenities and Infrastructural Development, Cultural Heritage, Natural Resources Management, Sports and Youth Development.

According to the overall statistics presented, ¢174 million has been disbursed to the Foundation since 2008, of which GHC111 million has been spent on various projects.

“The remainder has been set aside for the future,” he told the King.

Infrastructure
In terms of infrastructure, he outlined a three-storey lecture block at Yamfo at the College of Health; an Administration Block at Regional Police Training School at Kenyaase Number One; Polyclinic, OPD and Emergency ward at Gyedu; Health Centre at Wamahinso; and Polyclinic threatre at Gyedu.

He also mentioned market and toilet facilities’ renovations as well as others under construction.

Economic Empowerment
Since 2008, he said 2,157 men and women have benefitted economically at an estimated capital of ¢4.6 million disbursed to them.

“In the year under review, ¢2.6 million was invested. 228 businesses benefitted including microcredit schemes and a farmer.”

Human Resource Development
“Of all projects we have undertaken, 28% account for human resource development because we believe the youth are our future.”

As part of this, he said scholarships have been awarded for the study of STEM while and jobs have been created for others.

“Almost ¢30 million has been invested in scholarship with 12,858 benefitting. In 2023, 1,199 got scholarships into higher institutions. Others used the scholarship for vocational training.”

The total amount spent on scholarship in the year under review was a little over ¢6 million, according to Prof Ofosu-Kusi.

He also highlighted other intervention programmes with two partners which have all been captured in the report.

Satisfaction
The King expressed satisfaction with the update he got and urged traditional authorities in the Region to continue giving their unflinching support to Company.

“We are endowed with the resources but we don’t have the means to extract. These days it’s difficult getting investors and so when we get one like Newmont who collaborates with all stakeholders to give back to the communities where they operate, we need to hold fast to them.

“That is why I urged Nananom to do away with self-centredness to make way for their operation. In the end everyone will benefit from their operation. This agreement between Newmont and Nananom is perfect and beneficial. It is facilitating development. We might not see the impact of the Foundation now, it will definitely be obvious for all to see in the future.”

Meanwhile, he counselled the leadership of the Foundation to invest some of the proceeds they get from the company.

Courtesy Call
A joint delegation made up of representatives of Newmont Ghana Gold Limited, the management of Newmont Ahafo Development Foundation (NADeF) and some Traditional authorities in the Ahafo Region paid a courtesy visit on Otumfuo Osei Tutu II, Asantehene, at the Manhyia Palace.

Among the delegation were Barima Twereko Ampem (III), Paramount Chief of the Ntotroso Traditional Council, Nana Poku Ware, the Chief of Techire, Nana Okoh Agyemang Boakye II, Chief of Kenyasi Number One and Board Chairman of NaDeF, Prof Yaw Ofosu-Kusi.

At the request of the King, a representative of Newmont provided an update on the running of the business.

She said business was running smoothly; however, she pointed to the trespassing of illegal miners as a major concern.

She also informed the King about the commencement of operations at he Ahafo North mine.

“The constructed re-diversion road opened this week to make way for our operations at the mine.”

Source: opemsuo.com/Hajara Fuseini