Take advantage of Newmont’s presence; Asantehene tells B. Ahafo
Otumfuo Osei Tutu II, the Asantehene, has urged the Brong Ahafo Region to take advantage of the presence of Newmont Ghana’s Ahafo Mine to ensure that most of the revenue derived from the mine stays in the region.
Advertisement
He acknowledged the numerous developmental projects Newmont Ghana was undertaking in the region through its social responsibility initiatives but said the onus lay on the people to make the best out of those opportunities. He made these remarks when a delegation led by Paul Sowley, Interim Regional Vice-President, Sustainability and External Relations of Newmont Ghana, visited the Manhyia Palace to share findings of a study of the socio-economic impact of Newmont Ghana’s Ahafo operations on the national economy.
The study was conducted by Steward Redqueen, an internationally renowned strategy consulting firm supported by PAB, a Ghanaian consulting firm. The study, conducted from March 2012 to April 2013, traced the ripple effects of Newmont Ghana’s Ahafo mine’s 2011 spending in Ghana and the Brong-Ahafo Region. It is a follow- up to an earlier study in 2010 which focused on the impact of the spending of Newmont Ghana’s Ahafo Mine in 2009 on the national economy.
The study among other findings showed that in 2011 the Ahafo mine delivered $360 million of added value to the Ghanaian economy while contributing $160 million in taxes. It also showed that the Ahafo mine had created 2,000 jobs while supporting 39,000 other jobs in Ghana.
According to the report, of the $182 million that was spent on procurement on products and services in Ghana by the Ahafo mine,$33 million was spent in the Brong Ahafo Region out of which $18 million was spent on suppliers.
Otumfuo’s challenge
Otumfuo Osei Tutu challenged the community leaders to strategically take advantage of the opportunities presented by the value chain to ensure that the host communities and the Brong Ahafo Region benefited more from Newmont’s presence.
“It is up to us to strategise and put ourselves in such a place that we will benefit from Newmont. Our people do not necessarily need handouts from the mine. We can pool our tradesmen together to provide some of the goods and services that the mine needs in order to create employment, “ he added.
He therefore called for collaboration between local government, and traditional authorities to build the capacity of local artisans and suppliers to ensure that more of the revenue from the mine was retained in the area.
Other Trending Stories
Otumfuo commended Newmont for setting up the Newmont Ahafo Development Foundation and for further desiring that the Brong Ahafo Region benefited substantially from its Ahafo mine.
Mr Sowley thanked the Asantehene for his continued support and assure him that Newmont Ghana would continue to remain socially and environmentally responsible, safety conscious and collaborate with stakeholders to create value and improve lives through sustainable and responsible mining.