Gold Fields Still Country’s Largest Taxpayer

For the fourth consecutive year, Gold Fields Ghana has been adjudged the leading taxpayer in the country, with over $250 million in corporate taxes, dividends and royalties to government last year. The company, which operates the Tarkwa and Damang mines in the Western Region, received recognition for this achievement at the 2013 Ghana Club 100 awards. Under the theme: “Promoting good corporate governance and innovative entrepreneurship,” the Ghana Club 100 also recognised Gold Fields Ghana as the “Second Best Company” overall as well as “The biggest company in the country”. Abosso Goldfields, Damang, was ranked 11th among the 100 best companies. The Gold Fields’ Senior Vice President and Head of West Africa, Mr Alfred Baku, noted that besides those recognition, the company contributed significantly to Ghana’s economy, by direct and indirect employment. He acknowledged the challenges within the mining sector, but pledged the company’s firm commitment to all of its stakeholders, including government, communities, employees and investors. “Several external factors, notably the lower gold price, have compelled us to look critically at our operations, locally and globally. We have to make tough decisions to ensure that we remain both operationally sustainable and profitable.” He added: “that is the only way we can keep making significant contributions to government, attract investment for growth and expansion, take care of our communities, and fulfill our commitment to our employees and other stakeholders.” Gold Fields Ghana, through its Foundation, has invested over $24 million in community projects in the areas of health, water and sanitation, education and infrastructure.