President Kufuor inaugurates Ahafo Mine

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.=94


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.=94


"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.