Sunyani (B/A), March 20, GNA - Management of the Ahafo project of Newmont Ghana Gold Limited has commended journalists for their immense contributions towards the enhancement of effective communication system between the people and the company. At a press soiree in Sunyani, Mr Randy Barnes, External Affairs Manager, noted that effective communication played a very crucial role in the mining industry and there was the need to update the public about the company's activities.

He said Newmont in December 2005 made a commitment that one dollar an ounce of gold sold and one percent of net profit from the Ahafo mine would be channelled into a community development fund for sustainable community development. Mr Barnes said the fund had been lodged in a special bank account that had accumulated about 647,000 dollars, pending the signing of the agreement and the establishment of a foundation that would help implement it. He said the foundation would seek to achieve human resource development, provision of infrastructure, social amenities, economic empowerment and protection of natural resources within the company's operational area.

Mr Barnes said Newmont had initiated a partnership with five of its stakeholder communities in Ahafo where the communities identified a particular project and the company provided 7,000 dollars for the execution of a project in each community. Mr Barnes said the company had also initiated a program aimed at maximizing business opportunities of local micro small and medium enterprises and had sought ways to increase the income of communities around the mine in ways that did not necessarily depend on employment with Newmont.

In line with this, Mr. Barnes said, some 25 local micro small and medium enterprises executed 121 transactions in 2006 amounting to 1,718,949 dollars whilst 52 local enterprises executed 282 transactions that amounted to 4,182,653.80 dollars in 2007. He expressed concern about the resurgence of illegal mining activities (galamsey) at the Ahafo project but said the company was collaborating with the security and other relevant agencies to clamp down on the perpetrators.

Mr Barnes added that Newmont had put in place programmes to improve agriculture in the area so that the youth could gainfully engage in the sector for their livelihood.