- Newmont Akyem signs social responsibility agreements with host communities
Since its inception in 2014, the Akyem Social Responsibility Forum (SRF) has consistently championed respectful engagement and collaboration between Newmont Golden Ridge Limited Akyem Mine and its host communities on the most impactful benefits the presence of the mine offers the communities.
The forum, made up of representatives from all the communities, government agencies and Newmont, are governed by three main agreements. The first, which is the relationship agreement, establishes a formal working relationship between the mine and the communities through the Forum and the Complaints Resolution Committee.
The employment agreement establishes Newmont’s commitment to job sourcing for both skilled and unskilled vacancies.
The Foundation agreement details Newmont’s commitment to invest $1 per ounce of gold sold and 1% of profit before tax annually for social development through the Newmont Akyem Development Foundation.
A report from the Foundation’s Secretariat shows that Newmont’s payments to the Foundation in Akyem alone have yielded GHS 228 million in the past decade, and these funds have contributed significantly to provision of social interventions and development of the human resources in the host communities.
Social Responsibility Agreements have since been the vehicles through which social investments in the communities have been undertaken. After ten years of impact through proactive, transparent, and inclusive engagement, the Social Responsibility Forum in Akyem continues to ensure the sustenance of a symbiotic relationship between Newmont and the ten host communities.
Catalysing community development with revised Social Responsibility Agreements
On August 22, 2024 Newmont signed an updated agreement with its host communities that stipulates key amendments including increased local content with revised targets on local procurement and employment for both unskilled and skilled labour to further stimulate economic growth and job creation. Data shows that nearly 50 per cent of Newmont’s employees in Akyem are from the host communities.
The new agreement further indicates the inclusion of underrepresented groups such as the queen mothers in the structure of the Forum to deepen diversity in, and inclusion in decision making process.
With the revised agreement, the host communities and Newmont are set to enhance mechanisms for open communication, transparency, and feedback to ensure community concerns and aspirations are addressed with mutually beneficial outcomes.
Speaking on the signing, the Senior Manager – Sustainability and External Relations for Newmont Golden Ridge Limited, Derek Boateng reaffirmed the company’s commitment to continuous improvement and value to its host communities.
“Newmont is proud of our social investment through the Social Responsibility Agreements. We will continue to work collaboratively with our communities to ensure the investment is distributed equitably and extends, long after the mine’s life,” he stated.
Clearly, Newmont will continue to serve as a catalyst for local economic development through transparent and respectful stakeholder engagement, and as responsible stewards of the environment.
