After a good-faith dialogue process, Newmont Ghana and the Ghana Mineworkers Union (GMWU) Thursday announced reaching a 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 revitalise 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.

The statement was jointly signed by Director, External Affairs and Communications, Adiki O. Ayitevie, and General Secretary Prince William Ankrah.