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Newmont Pays $174 Million in Capital Gains Tax as Government Eyes Infrastructure Boost in Mining Communities

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The Government of Ghana has received a $174 million cheque from Newmont as part payment of capital gains tax arising from the sale of the Akyem Mine, which was valued at nearly $1 billion. 

The payment represents a significant portion of the estimated $220 million due to the state from the transaction.

In addition to the tax payment, Newmont also presented a separate $50 million cheque representing Ghana’s carried interest in the deal.

Finance Minister Dr. Cassiel Ato Forson, who received the delegation from Newmont led by Danquah Addo-Yobo, Head of Finance for the Africa–Canada Business Unit, commended the mining firm for its good faith and commitment to tax compliance.

“I use this opportunity to remind you of the expectations of government under the Growth and Sustainability Levy, and urge you to continue in the spirit of transparency and partnership,” Dr. Forson stated.

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The Finance Minister further assured the delegation of government’s readiness to address infrastructure challenges in mining communities, particularly the long-standing condition of the Kumasi–Kenyasi road. 

He announced that discussions would begin immediately with the Roads Ministry, with construction expected to take 12 to 18 months.

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Family of late diplomat James Victor Gbeho officially notifies Prez Mahama of his passing

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The family of Ambassador James Victor Gbeho, a distinguished statesman and diplomat, has paid a courtesy call on President John Dramani Mahama. They officially informed him of his passing.

The delegation, representing the Gbeho family, noted that it was culturally and diplomatically important to formally notify the President of the loss before making a public announcement of his death.

Ambassador Gbeho was a towering figure in Ghanaian and international politics. He served in many diplomatic missions, including New York. He was Ghana’s Minister for Foreign Affairs, a Member of Parliament for the Anlo constituency, and President (formerly Executive Secretary) of the ECOWAS Commission.

He was widely respected for his role in regional integration and his contributions to global diplomacy at the United Nations.

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President Mahama expressed his condolences and shared reflections on Ambassador Gbeho’s contributions to the country, West Africa and the world.

Funeral details will be announced later.

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Interior Minister revokes all firearm licences, orders fresh registration

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The Minister for the Interior, Muntaka Mohammed-Mubarak, has revoked all firearm permits in Ghana with immediate effect and announced a new registration process for all gun owners.

The minister made the announcement on Tuesday, June 23, at the information service department saying all individuals who currently hold licences to own firearms or sidearms must undergo a fresh registration process.

“From this afternoon, all permits that have been granted to any individual that you are holding a sidearm or firearm is hereby revoked,” Mr Muntaka said.

He explained that the government had identified gaps in the country’s firearm registration system and needed to introduce stricter measures to improve public safety.

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“We are opening the window where everyone will have to come forward again to register or re-register the gun because we’ve changed the procedure,” he stated.

According to him, the government decided not to wait until the end of the year to make the changes because lives could still be saved within the next six months.

The Interior Minister said one of the new requirements would be mandatory mental health screening for applicants seeking firearm licences.

“We’ve seen that people with mental health have already gone through and have the sidearm. Now we are introducing mental health. Before we give you the sidearm, we have to be sure that you have the mental stability to hold the firearms,” he said.

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Mr Muntaka also announced that applicants would be required to undergo drug tests before being granted licences.

“We’ve also realised that people who are on drugs are also holding their arms and they are legitimate because it’s been registered. Now you have to go through drug tests to be sure that you are not on drugs before you can hold sidearms,” he added.

The minister said the new measures form part of efforts by the government to tighten firearm control and prevent legally registered weapons from falling into the wrong hands.

He urged all firearm owners to cooperate with the new registration process once details of the exercise are announced.

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By: Jacob Aggrey

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