Sometimes mining is perceived to be an “enclave” economy. This means it is expected that there are few“ spillover” effects and that not many within the country of operation benefit from the mining operation. But is this true? To shed light on a different perspective of its activities, Newmont approached Steward Redqueen to quantify and analyze the value associated with the company’s activities in Ghana by means of rigorous academic analysis.
In 2011, Newmont Ghana Gold Limited (NGGL) launched its socio-economic impact study of
the Ahafo mining operation in Ghana’s Brong-Ahafo region and Asutifi district. The key findings (based on NGGL’s 2009 financial data) indicated that:
Subsequently, several stakeholders who were involved in this study, including the President’s Office and various Ministries, the Regional Government, the Asantehene (Ashanti King), the District Chief Executives and Ghanaian civil society organizations, expressed an interest in results that not only captured the impact of the Mine on the national but also on the regional level. In our follow-up report (based on 2011 financial data) that we launched in 2013, we quantified the economic impact of NGGL’s activities on Ghana, the Brong-Ahafo region and the Asutifi district, and show that:
Newmont appreciated these insight. But also its stakeholders such as government authorities, local chiefs and communities valued the findings. The stakeholders appreciated Newmont’s transparency and were pleased to see what part of economic benefits remain within the region.
Read the 2011 impact report here .
Read the 2013 impact report here.