Gold Fields has revealed that it has invested roughly US$5 billion in Ghana over the previous 30 years, with greater than 70 per cent of the income generated from its operations remaining within the nation.
Gold Fields, whose Tarkwa mine has featured prominently in debates over international participation, useful resource nationalism and native possession, says its contribution to Ghana goes past gold manufacturing to incorporate taxes, procurement, employment and regional growth.
The corporate additionally introduced plans to take a position greater than US$1 billion in new capital over the following three to 4 years, demonstrating continued confidence in Ghana’s mining sector regardless of intense scrutiny over the long run course of the business.
The figures have been introduced by Government Vice President, Exterior Relations and Investor Relations, Jongisa Magagula, throughout the 2026 Ishmael Yamson & Associates Enterprise Roundtable in Accra.
“In abstract, Gold Fields is proud that greater than 70% of all income earned by Gold Fields in Ghana stays in Ghana,” Magagura informed members.
Her remarks got here as public debate continues over mining leases, possession buildings and the way a lot worth Ghana ought to retain from its pure sources.
Gold Fields didn’t instantly tackle the continuing discussions surrounding its lease settlement, however pointed to the long-term position of international funding in Ghana’s mining business.
12,000 to 500,000 ounces of gold
Gold Fields entered Ghana within the early Nineties after the federal government invited worldwide mining firms to guage the then state-owned Tarkwa underground mine. The Tarkwa underground mine produced solely about 12,000 ounces of gold per yr.
Slightly than proceed working underground, the corporate has launched into an in depth exploration program to evaluate the viability of a large-scale open pit operation.
Over 4 years, Gold Fields has deployed as much as 15 drilling rigs and accomplished over 2 million meters of exploration work.
This exploration program ultimately reworked Tarkwa into one in every of Ghana’s largest gold mines.
The operation presently produces roughly 500,000 ounces of gold yearly. That is greater than 40 occasions the manufacturing quantity when the corporate was first based.
The mine’s present estimated helpful life is 21 years.
Gold Fields stated the transformation demonstrates the significance of long-term funding and a secure working surroundings.
“The revitalization of Tarkwa since 1993 has been potential as a result of the Ghanaian authorities has created the mandatory surroundings to draw billions of {dollars} of funding,” Magagula stated.
Foundation for 70% Retention Declare
Gold Fields stated its Ghana operations paid roughly 5.8 billion Ghana cedis to the federal government in 2025 by means of taxes, royalties and dividends. This was a rise from 4.4 billion cedis the earlier yr.
The corporate additionally spent 6.5 billion cedis on procurement for host communities and one other 8.8 billion cedis on native suppliers.
Primarily based on these expenditures, the corporate says greater than 70% of the income from its Ghana operations stays inside the native financial system.
Responding to requires elevated regional advantages
Mr Magagula acknowledged that expectations are rising that Ghana’s mining sector ought to convey better advantages to the individuals.
“There continues to be a respectable expectation on the a part of Ghanaians that mining ought to convey better advantages to Ghanaians,” she stated. “We’re totally conscious of this obligation.”
However she argued that Ghana may pursue its better nationwide pursuits whereas persevering with to draw worldwide capital and know-how.
He stated: “Ghana is well-positioned to proceed to leverage international capital and technological advances within the mining business, whereas with the ability to negotiate degree phrases that ship significant nationwide advantages and truthful returns.”
Group funding exceeds USD 110 million
Along with taxes and royalties, Gold Fields operates a neighborhood growth mannequin by means of the Gold Fields Ghana Basis, which is funded by contributions of US$1 per ounce of gold offered and 1.5 p.c of the corporate’s pre-tax income.
By its basis, Gold Fields says it has invested greater than US$110 million in tasks together with schooling, agriculture, well being care, infrastructure, water and sanitation.
Accomplished tasks embody 52 faculties, 116 wells, 33 kilometers of paved street connecting Tarkwa and Daman, and a number of other bridges.
The corporate additionally highlighted the Tarkwa Abosso Stadium, which Mr Magagula stated had been “lauded by Ghana’s President John Mahama as a cheap mission, which he stated could be replicated in some elements of the nation”.
Gold Fields additionally helps scholarship schemes and graduate growth packages, offering real-world coaching to greater than 100 college students, together with mining engineers who’re presently employed on tasks around the globe.
“Our neighborhood tasks are decided, developed and delivered on the occasion of the neighborhood,” Magagula stated. “The worth of those investments is just not measured solely in financial phrases.”
Continued help for sports activities in Ghana
The corporate additionally highlighted its long-standing help for the event of sports activities in Ghana.
Gold Fields has supported the Black Stars, Black Queens and Black Problem Amputee soccer groups for over 20 years and has just lately expanded its help to the Ghana Girls’s Premier League.
The corporate is presently an official accomplice of the Ghana Soccer Affiliation.
In accordance with Magagura, Gold Fields’ newest funding of US$5 million in sports activities in Ghana is anticipated to have a big impression on youth growth and nationwide delight.
Gold Fields says it intends to deepen its contribution by means of job creation, provider growth, know-how switch and environmental administration.
“Our goal at Gold Fields is to create lasting worth past mining,” Magagula stated.
