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Newmont Ahafo Foundation accumulates GH¢50 million

NEWMONTThe Newmont Ahafo Development Foundation (NADeF) has received GH¢9,717,519.68, as the 2015 contribution from the Ahafo Mine of Newmont Gold Ghana Limited (NGGL).

The mining company has contributed GH¢50.5million to the Foundation since it was established in 2008.

According to a statement, signed by Sabina Adu Wusu, the Communication Officer of the NADeF, and issued to the media, GH¢31.8 million had been spent on various projects in the Mine’s 10 host communities.

They include more than 80 infrastructural and social amenities, micro-credit loans to 1,287 entrepreneurs and scholarship package to 6,973 Senior High School and Tertiary institution students; as well as other youth in various apprenticeship programmes.

According to the statement, the Mine had also established NADeF’s endowment fund, which had accumulated GH?25.09 million.

NADeF, the Ahafo Mine’s flagship community development fund, was established following two years of engagement between the Mine and the 10 local communities.

The communities are Kenyase No One, Kenyase No. Two, Ntotroso, Gyedu, and Wamahinso in the Asutifi North District; Yamfo, Susuanso, Afrisipakrom, Terchire and Adrobaa in the Tano North District.

The Foundation is being funded by the NGGL Ahafo Mine based on contributions of one dollar per every ounce of gold sold and one per cent of the annual pre-tax profit of the multi-national mining company.

Source: http://thebftonline.com/business/mining/18198/newmont-ahafo-foundation-accumulates-gh50-million.html

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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