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Value Distribution in Gold Mining

This week, the World Gold Council released its second edition of the Responsible gold mining and value distribution report, covering 2013.

Newmont's-Ahafo-Linkages-Program-provides-training-to-increase-competitiveness-of-small-local-businesses
Newmont’s Ahafo Linkages Program provides training to increase competitiveness of small, local businesses.

According to the report, 79 percent of the money spent by gold mining operations that were included in the analysis went to local suppliers, employee wages, community investment, infrastructure, taxes, royalties and fees to governments. These expenditures exceeded $47 billion and resulted in jobs for 161,000 people.

Newmont’s direct economic contributions in the countries where we operate totaled nearly $9 billion in 2013. But dollars only tell part of the story.

In addition to employing nearby residents at our operations, Newmont partners with local entrepreneurs to establish and grow businesses that provide supplies and services to our mines, as well as other potential customers. Nurturing local enterprises also includes supporting institutions that teach skills and trades to local residents, thereby empowering them to take advantage of the many economic opportunities generated by our mines and our suppliers.

Ahafo Linkages Program (ALP) in Ghana, which is funded by Newmont and the International Finance Corporation (IFC), provides training to increase the competitiveness of micro, small and medium enterprises in the communities near the mine. To date, the ALP has trained more than 100 local suppliers and provided around 400 local businesses with nearly $40 million in contracts.

Beyond partnering with local entrepreneurs, Newmont also invests in community infrastructure, health care, education and capacity building. To learn more about responsible mining practices, please visit our 2013 sustainability report and the World Gold Council’s website.

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