Gold Fields receives local content award
Gold Fields Ghana Limited (GFGL), operators of the Tarkwa gold mine, the nation’s largest operating gold mine, has been recognised for its support to the development of local businesses in the mining supply chain.
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At the Ghana Extractive Industry Safety Conference (GEICon 2016) organised by the Sekondi-Takoradi Chamber of Commerce and Industry (STCCI), a local content award was presented to Gold Fields for the company’s commitment to building the capacities of local companies engaged in the mining industry.
Local spend
The company invests heavily in the Ghanaian economy through local procurement. Products and supplies such as fuel, lubricants, medical services, grinding media, catering and haulage are all procured locally, and represent over 60 per cent of the company’s total procurement expenditure.
Last year, the company paid over GH¢400 million to local business partners and from January to June 2016, almost GH¢ 200 million has already been spent.
Gold Fields Ghana is also the largest taxpayer in the mining sector, contributing significantly to the Ghanaian economy beyond the tax, royalty and dividend payouts.
Mining as catalyst for growth
The Executive Vice-President and Head of West Africa for Gold Fields, Mr Alfred Baku, said, “Our company strongly believes that Ghana will benefit immensely if the mining industry is strategically used to catalyse the growth of other allied sectors.”
That he said, included strengthening the local supply chain and added that Gold Fields Ghana would continue to provide leadership on that front to ensure that Ghanaian businesses remained competitive and significant players in the mining value chain.
A statement issued from the company’s head office in Accra said GFGL’s idea of building local capacity was not restricted to only suppliers, but also extended to labour and local expertise.
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“Over 99 per cent of GFGL’s employees are Ghanaians, and the company plans to train and maintain a pipeline of skilled labour in the surrounding communities,” it said.