Chirano Mines pays US$13m dividend to gov’t – Canada Ghana Chamber of Commerce

Chirano Mines pays US$13m dividend to gov’t


Government, on Thursday, September 20, 2018, received US$13 million (GHS61.9 million) in dividends, as its 10 percent carried interest in the Chirano Gold Mines Limited (CGML), a subsidiary of Kinkross Chirano, for the 2017 fiscal year.

Mr Adriano Sobreira, the Vice President of the CGML, who doubles as the General Manager of the Company, presented the cheque to Mr Kwaku Asoma Cheremeh, the Minister of Lands and Natural Resources, at a brief ceremony in Accra.

Mr Sobreira said the payment of the dividends was approved by the Board of the CGML, based on its operational performance for the year under review.

“This dividend represents only part of the significant contributions Kinkross has made to the local communities and the development of the Ghanaian economy with more than $1.8 billion being spent in the country since 2011,”he pointed out.

The Company, which operates in the Bibiani-Ahwiaso-Bekwai District of the Western Region, also contributed about US$400 million to the national economy through the payment of taxes and royalties to government from 2011 to 2017.

It paid a total of US$257 million in wages and salaries within six-years, to employees of whom 98 per cent are Ghanaians.

“The Company has also provided numerous business opportunities to local contractors, with nearly US$1.2 billion being spent on goods and services with local companies since 2011; while 73 per cent of all procurement done in 2017 was done in the country,” Mr  Sobreira stated.

Mr Asoma Cheremeh, on his part, lauded the CGML for the yeoman’s job, and urged other companies operating in the country to earnestly and honestly pay their dividends in accordance with the laws and agreement entered into with the government.

Source: GNA

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