The Newmont Ahafo Development Fund has accumulated 2.4 million dollars to support projects defined in the social responsibility agreement between the mining company and its catchments communities.
Mr. Dan Michaelsen, General Manager, Environment and Social Responsibility, said this when he inaugurated the fund's secretariat at Ntotroso in the Asutifi District.
He said management of the Ahafo Project of Newmont Ghana Gold Limited at Kenyasi last year passed a resolution to set aside one per cent of an ounce of gold and one percent of net profit from the Ahafo mine into a community development fund.
"Social responsibility is central to our business and enshrined in our core values, namely to demonstrate leadership in safety, stewardship of the environment and social responsibility", Mr. Michaelsen said.
He said the mining company had taken steps to ensure that the objectives of the fund would be realized in a systematic and consistent manner.
Mr. Michaelsen mentioned the formation of sustainable development committees in all the 10 communities that are proposing projects for funding and the establishment of the Fund's secretariat as some of the measures instituted.
He reminded members of the sustainable development committees that the destiny of their communities lay on their shoulders and advised them to choose projects that would benefit the largest interests of their constituents.
Mr. Eric Addae, Asutifi District Chief Executive, said illegal gold mining had been a social concern since Newmont started operations in the district and gave the assurance that the assembly was working with security agencies to ensure that the situation was brought under control.
He commended the mining company for their immense contributions towards the rapid development of the district and cautioned the communities against misappropriation and misapplication of the fund.