Otumfuo lauds Newmont’s Development Foundation

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10/05/2012

Kenyasi, Friday, October 5, 2012 – The Asantehene, Otumfuo Osei Tutu II, has commended Newmont Ghana Gold Limited for establishing the Newmont Ahafo Development Foundation that seeks to ensure the sustainable development of its host communities.

“If all other mines can emulate the Newmont example, the lives of mining communities will improve tremendously,” he said during a courtesy call on him at the Manhyia Place by a delegation from Newmont Ghana led by its Regional Vice President for Environment and Social Responsibility, Randy Barnes. The delegation included some members of the Board of Trustees of NADeF, led by its Chairman, Kwame Saraah Mensah.

Otumfuo also commended the company for the cordial working relationship it has maintained with its communities. He further called for a closer collaboration with the traditional authorities of the Ahafo mine’s host communities to develop the area while also urging the communities to provide a peaceful atmosphere for the company to operate.

On behalf of the company, Mr Barnes donated GH¢ 20,000 to the Otumfuo Education Fund and commended Otumfuo for contributing to the development of education in Ghana. He said human resource development was a key foundation to the country’s success and Otumfuo’s lead is a significant contribution. He added that Newmont’s commitment to education was in line with this effort and it was therefore proper for it to support the Otumfuo Education Fund. This is Newmont’s fourth donation to the Fund.

The company has a special interest in the development of human capital in Ghana. Through its Newmont Ahafo Development Foundation (NADeF), Newmont has committed 24% of the Fund’s annual contribution to human resource development in its 10 host communities.

To date, NADeF has awarded and disbursed over GHc 2,700,000 as scholarships to over 3,000 students in both tertiary and second cycle institutions in the mine’s catchment area. Besides the scholarships, the company has also partnered with community stakeholders to support the construction of several educational infrastructure projects such as classroom blocks, teachers’ quarters, and community libraries in all the 10 host communities of the Ahafo mine.

About the Ahafo Mine

Newmont Ghana operates the Ahafo Mine in the Brong-Ahafo Region in one of the five core operating districts of Newmont Mining Corporation (www.newmont.com), one of the largest gold companies in the world. The Mine has four operational pits and a workforce of close to 5,500 employees and contractors.

The Ahafo Mine as part of its sustainability practice has put in place with its host communities, the Ahafo Social Responsibility Forum, made up of key stakeholder groupings. The Forum has instituted, following two years of discussions, three key Agreements: the Local Employment, Relationship and Foundation Agreements; to guide employment, conflict resolution and the development processes in the Mine area. Complaints and conflicts are managed with an innovative and robust Grievance Management System. Public Information Offices and Community Liaison Officers are situated in all communities to regularly interact with the communities and provide an available avenue for enquiries and proactive information dissemination on the Mine’s operations and activities.

Newmont Ghana’s Ahafo Development Foundation (NADeF), was established in June 2008 following two years of engagement with the Ahafo Social Responsibility Forum. Newmont Ghana through its Ahafo Mine, pays into the Foundation, US$1 per ounce of gold produced and 1% of the Mine ’s annual pre-tax income.

Newmont Ghana is committed to high environmental management, health and safety standards and building and operating a world-class mine which would provide thousands of well-paying jobs, workforce training and economic development in the host communities and surrounding areas.