In the third quarter of 2023, Newmont Corporation's Africa operations, including the Ahafo South and Akyem mines in Ghana, made substantial financial contributions to the Government of Ghana.

The company reported total payments of GHS 810.70 million in taxes, royalties, levies, and carried interest. These payments were facilitated through the Ghana Revenue Authority, Forestry Commission, and Ministry of Finance.

Specifically, the Ahafo South operation contributed GHS 441.90 million, while the Akyem operation contributed GHS 368.80 million during the quarter spanning July to September.

The cumulative year-to-date payments from January 1st to September 30th, 2023, by Newmont Corporation's Ghana operations amount to GHS 2.857 Billion. The breakdown of these payments is as follows:

• GHS 1.829 billion as Corporate Tax;• GHS 522.99 million as Mineral Royalties;• GHS 291.59 million as Pay As You Earn;• GHS 120.12 million as Withholding Tax;• GHS 67.33 million as Carried Interest; and• GHS 25.75 million as Forestry Levy.

“Newmont understands the value of its tax contributions in Ghana to support local and national development, and remains committed to accurate tax payments and disclosure, in accordance with its Extractive Industry Transparency Initiative (EITI) commitments,” said David Thorton, Managing Director of Newmont Africa.

Construction has commenced on Newmont's third mine in Ghana, known as the Ahafo North project. The new mine is projected to contribute between 275,000 and 325,000 ounces annually for the initial five full years of production. Commercial production is anticipated to commence in the second half of 2025.

Once operational, the Ahafo North mine is expected to not only provide an additional direct revenue stream for the government but also contribute to employment generation, local development, and other mutually agreed-upon value-creation initiatives.