Ghana Receives $174 Million Capital Gains Tax For Akyem Mine Sale
Newmont has paid Capital Gains Tax to Ghana following the sale of the company’s Akyem Mine.
The Minister for Finance, Cassiel Ato Forson, on May 22, 2025, received a cheque for $174 million as part of payment of capital gains tax from a delegation led by the Head of Finance for the Africa–Canada Business Unit, Mr. Danquah Addo-Yobo.
This represents a substantial portion of the over $220 million due to the state from the transaction.
Newmont also presented a separate $50 million cheque to the government, representing Ghana’s carried interest in the transaction of the mine valued at nearly $1 billion.
In a Facebook post, the Minister commended the company for its good faith and commitment to upholding its tax obligations.
“I used the opportunity to remind the delegation of the expectations of government under the Growth and Sustainability Levy and urged them to continue in the spirit of transparency and partnership.”
He further assured them of the government’s resolve to address infrastructure challenges in mining communities.
“As a matter of urgency, I will engage the Roads Ministry to commence work on the Kumasi–Kenyasi road, with an expected construction timeline of 12 to 18 months.”
Source: opemsuo.com/Hajara Fuseini
