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In This Issue...Links to the News:
March 11, 2016
President Kufuor inaugurates Ahafo
Mine of Newmont Ghana
Ntotroso(B/A), Nov. 18, GNA - President John Agyekum Kufuor
on Friday inaugurated the Ahafo Mine of Newmont Ghana
Limited with a call on the management with its high
international profile to fit well into the partnership with
Government and other stakeholders.
He said much was expected of the company in terms of
business and social responsibility to the local stakeholders
adding "The touchstone of the partnership should be the
principle of win-win, which must be translated practically."
Inaugurating the mine at Ntotroso in Asutifi District of
Brong Ahafo Region, President Kufuor urged the management to
let the evidence of its corporate citizenship show in its
commitment to regularly use the services of local
sub-contractors as well as the domestic sector, including
financial institutions and being listed on the Ghana Stock
Exchange (GSE).
He noted that the company's plans to expand its Ahafo
operations while at the same time exploring other parts of
the country for more gold mining sites was encouraging.
"Geologically the country is well-known to be gold-laden in
nearly all parts. This is why the policy is to encourage
investors who come in with know-how, capital, enhanced job
creation and a heightened sense of responsibility,
especially to their areas of operation, to partner the state
and the people to our mutual benefit," President Kufuor
added.
President Kufuor stressed that this encouragement from
Government "Translates into a fair administrative and legal
framework, including Alternative Dispute Resolution (ADR)
mechanisms, public sector responsiveness to good corporate
citizenship, a vigorous infrastructural development and
improved social services delivery."
He explained that the new Minerals and Mining Act that came
into force in March this year reflected the Government's
commitment to good governance in all areas of national
endeavour.
President Kufuor said the Act's critical feature "Is the
transparency that it introduces into the mining industry and
the level of responsibility that it demands of all
stakeholders."
He called on the chiefs and people in the area to give the
management maximum support and all the co-operation it
needed.
President Kufour gave the assurance that Government was
taking serious and urgent measures to implement policies
that would double the energy sector's capacity within three
to five years.
He said Government was committed to quickly overcome the
insecurities in the sector, saying despite any discomforts
that Newmont might experience now and then, "There is not a
better time for doing business in the country than now.”
Mr Wayne Murdy, Chairman and Chief Executive of Newmont
Mining Corporation expressed appreciation for the
hospitality that the company had received from the
Government and its agencies, the chiefs and people in the
communities where the company's projects were located.
He noted that many people mostly Ghanaians had contributed
to the development and construction of the Ahafo mine and
paid tribute to their work.
"This world-class project incorporates a blend of the
standards of the Government of Ghana, the World bank and
Newmont's standards and values.”
"That is why we have in this project some notable high
points, including on-time and on-budget, the largest
processing facility of its type in Africa," Mr Murdy added.
Mr Murdy noted that Ghana was a good place for the company's
first gold mine on the African continent, adding that not
only was Ghana the first country acknowledged historically
as "Gold Coast" but was also a pacesetter in democracy in
Africa.
He stressed that the company's commitment went beyond
finding and producing ounces of gold, "For we recognise that
the lives of communities within the vicinity of our projects
and the nation at large must be improved by our presence."
"Our goal is to leave a legacy of increased prosperity by
building sustainable capacities for the communities who are
our neighbours so that even after the mine eventually closes
their lives would continue in an improved state as a result
of our project," Mr Murdy said.
The Newmont Chief Executive was optimistic that the company
would continue to enjoy the confidence and trust of the
Government and people of Ghana "And we would further
consolidate our Golden Partnership."
Mr Bill Zisch, Vice President of Newmont, Africa Operations,
gave the assurance that the company would continue to pursue
opportunities to deepen its relationships with Ghanaians.
"Our goal is still to create value for all stakeholders with
every ounce of gold and this could only happen through
partnership," he added.
President Kufuor assisted by Mr Murdy unveiled a plaque to
commemorate the inauguration.
In another development, Mr Pierre Lassonde, President of
Newmont on behalf of the company presented a cheque for
25,000 dollars to Daasebre Osei Bonsu 11, Asante-Mamponghene,
who represented Otumfuo Osei Tutu 11, Asantehene, towards
the Otumfuo Education Fund.
GNA
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