GH¢5.8bn in taxes, GH¢8.8bn in local spending – Gold Fields makes economic case for lease renewal

Making its economic case, Gold Fields said approximately 74 pesewas of every dollar generated by the Tarkwa mine remains in Ghana through taxes, royalties, government dividends, salaries, local procurement and community investment.

The company maintained that it supports Ghana’s ambition to increase local participation in the mining sector but believes continued Gold Fields operatorship is the best option for Tarkwa because of its financial capacity, technical expertise and ability to extend the mine’s lifespan.

While details of the proposal remain under discussion, Gold Fields said its plan seeks to deepen local participation, expand local procurement, strengthen skills development and create greater long-term value for government, host communities, employees and suppliers.