Pulse.com.gh logo
Go


Goldfields Ghana Limited Gov’t grants Goldfields $33million tax exemptions

The mining company has been reeling under revenue shortfalls in recent years, leading to massive layoffs and downsizing of operations in the country.

  • Published:
Gold Fields Ghana Limited play

Gold Fields Ghana Limited

The Government has finally granted a stability agreement to Goldfields Ghana Limited, after series of meetings and negotiations.

The mining company has been reeling under revenue shortfalls in recent years, leading to massive layoffs and downsizing of operations in the country.

Under the stability agreement which spans 10 years, government has granted tax concessions and incentives to Goldfields to the tune of $33 million in their two (Damang and Tarkwah) mines currently operational in the country.

                                                 Read More

 

Chief Executive Officer of Goldfields Ghana, Nick Holland believes it’s a step in the right direction for the company and the country.

“It is welcome news for the company. But it is also a good thing for the country. There is now a good reason to come up with more investment for the Damang Mine and for Takwah [we] will get a longer term sustainability plan. That is certainly more royalties, more jobs and foreign exchange for the country.”

Gold Fields Ghana (GFG) is presently the number one gold mining company and largest gold producer in Ghana, with annual production in excess of 935,000 ounces from its two operating mines at Damang and Tarkwa.

The company engages about 5,612 Ghanaians in direct employment. The Company is owned by Gold Fields Limited (GFL), a global multinational precious metals producer, which is headquartered in Johannesburg, South Africa.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
3 Unibank Collapse Shareholders of uniBank unhappy with leaked KPMG reportbullet
4 Banking In Ghana Stranded customers of First Allied Savings &...bullet
5 Unibank Collapse KPMG denies auditing UniBankbullet
6 UT Banks Collapse “I’m saddened by the turn of events” – Amoabengbullet
7 Tax Policy Gov't weighs in on controversial MoMo taxbullet
8 Banking Crises Joe Jackson urges BoG to ‘rate’ banks to...bullet
9 How to create a verified PayPal account Learn how to...bullet
10 Duncan Amoah Fuel prices up by 2%; COPEC calls for...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Money Alert Meet Africa's richest womanbullet
6 Support Finance minister buys Kantanka carbullet
7 Plane Crash Starbow suspends operations following plane crashbullet
8 Video We are determined to move Ghana beyond aid - Bawumiabullet
9 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
10 Tech 6 reasons you should buy an iPhone SE instead of...bullet

Business