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Following a good-faith dialogue process, Newmont Ghana and the Ghana Mineworkers Union (GMWU) today announced reaching settlement on their labour issues. The company and the GMWU have subsequently signed a Memorandum of Understanding (MOU) covering the decisions reached. The highlights of the settlement include: � The company proceeding with its reduction in workforce in September � Impacted employees being paid the difference in compensation that may arise from the salary negotiations for the remaining force � All outstanding matters currently pending at the National Labour Commission will be discussed and resolved within the context of a revived partnership. Newmont Ghana and the GMWU recently informed the National Labour Commission (NLC) of their joint decision to temporarily suspend the arbitration process and find a mutually acceptable outcome. �Together we will communicate the MOU to the panel of arbitrators, instituted by the National Labour Commission, for adoption into an arbitral award,� GMWU�s General Secretary - Prince Ankrah and Newmont Ghana�s Pascal Kanbonnabah - Regional Vice President, Human Resources stated in a joint media statement. �We applaud the negotiating teams of Newmont Ghana and the GMWU for committing to collaboration and positive dialogue that has typically existed between both parties.� Both parties reiterated their commitment to fostering a mutually beneficial partnership and working together to revitalize the Ahafo Mine and set it on course for long-term sustainability, future growth opportunities and shared value. �It is important we arrive at mutually acceptable outcomes in the interest of the long-term sustainability of Newmont Ghana�s operations,� Ankrah and Kanbonnabah added.