Gold Fields pays $5.8m dividend to Gov’t

Gold Fields Ghana Limited has paid a dividend of $5.8 million to the Ministry of Finance for the 2016 financial year in respect of government’s 10 percent carried interest in the company.

Ken Ofori-Atta, Finance Minister, commended Gold Fields for consistently paying dividends to government despite challenges in the mining sector and the fall in gold prices on the world market over the past few years.

“It is worth noting that for the past six years, Gold Fields has paid over $32 million from its operations in Tarkwa and Damang Mines, and this year’s dividend brings it to nearly $40 million in the past few years,” he added.

Mr. Ofori-Atta applauded Gold Fields for its commitment to corporate social responsibility, adding that it spent over GHC385,000 allocated in the company’s 2017 financial year to support education in its catchment areas.

Alfred Baku, Executive President and Head of West Africa, Gold Fields, said Gold Fields ranks 8th in the world in terms of gold production and has four regions in Australia, South America, South Africa and West Africa.”

“In the West Africa region, we have two operations which are all in Ghana; Tarkwa and Damang Mines. The Tarkwa Mine is the largest gold producer in the country at the moment. We have invested close to $2.5 billion over the years of our existence in Ghana,” he noted.

Gold Fields is excited about its ability to protect about 2,000 jobs following the board’s decision to reinvest $1.4 billion in the Damang Mines, which was close to being shut down, he said.

Gold Fields is currently tarring the 29-kilometre road between Tarkwa and Damang, which is going to cost about $18 million.

Gold Fields, a global company, whose corporate office is based in Johannesburg, South Africa, has been operating in Ghana over the last 20 years.

Last year, Ghana Revenue Authority (GRA) adjudged Goldfields as the best taxpayer.