Gold Fields Ghana Limited has presented dividends totalling GHc159 million to government for the 2020 and 2021 financial years.
The first cheque for GH146 million, is an the interim dividend for the 2021 financial year in relation to the government’s 10 per cent stake in Gold Fields’ Tarkwa Mine, while the second cheque of GHc13 million being the Guaranteed Advance Payment for the 2020 financial year, in respect of Abosso Goldfields Limited, Damang Mine.
Presenting the dividends to government through the Ministry of Finance in Accra on Monday, Alfred Baku, the Executive Vice President and Head of Gold Fields West Africa, said gold Fields Ghana had an enviable reputation for meeting its financial obligations and is committed to sustaining operations to create value for all stakeholders such as the government, host communities and employees.
“Gold Fields took a decision to reinvest approximately US$1 billion in the mine as part of our Development Agreement with the government. The reinvestment project started in 2017, and after three years of hard work, we have achieved more progress than anticipated,” Mr Baku, said.
Aside promptly paying dividend to government, the Executive Vice President, said Gold Fields was a major contributor to national development and in 2020 the company contributed US$170 million to corporate income tax.
Receiving the cheque, the Minister of Finance, Ken Ofori-Atta, commended Gold Fields Ghana for its prompt payment of dividend to government.
He said in spite of the difficult financial year last year and this year, the company had managed to pay substantial dividend to government.
Mr Ofori-Atta pledged government’s commitment to pursue supportive fiscal policies to help the mining industry to thrive.