Newmont to spend US$7m on local suppliers

Newmont Akyem Mines plans to source more than US$7 million worth of its supplies from local businesses in its operational businesses.

The mining firm has by the end of August this year spent about US$ 5.2 million on local supply business chains which most provide transport services, sanitation and contractors in the value chain.

The plan is to ensure that the mining operator acquires more than half of its supplies locally by 2015.

Communications and External Relations Manager of Newmont Akyem, Mr Marfo Oduro- Kwarteng, said this in an interaction with the Journalists for Business Advocacy (JBA) who were on a mining tour of the Akyem operations of Newmont in the Eastern Region.

He said “about 70 per cent of mining expenditure goes into the supply-chain area, hence the need to support the growth of local businesses to increase the provision of basic materials to mining companies. We need to develop a national vision on local content in the mining indust