Gold Fields Ghana has reinforced its position as one of the single largest corporate contributors to the Ghanaian economy, remitting more than GH₵5.77 billion to the Government of Ghana in 2025 alone, in a sweeping demonstration of the scale of value the mining giant generates at national and community levels.
The company, which operates two major mines — Tarkwa and Damang in the Western Region — released the figures under the “publish what you pay” principle, a transparency framework designed to promote accountability in the extractive sector.
The disclosure not only sheds light on the company’s fiscal footprint but also highlights the broader economic ripple effects of its operations across taxation, local procurement, employment, and community development.
At a time when Ghana continues to balance fiscal consolidation with growth ambitions, the magnitude of Gold Fields’ remittances underscores the strategic importance of large-scale mining to public revenue mobilisation, foreign exchange inflows, and regional development.
A strong fiscal anchor for the state
The GH₵5.77 billion paid to the government in 2025 comprises corporate taxes, royalties, dividends to the state, withholding taxes, Pay-As-You-Earn (PAYE) deductions, and withholding VAT, among others.
GH₵2.9 billion in corporate taxes
Corporate taxes formed the largest component, amounting to GH₵2.9 billion.
Of this, Tarkwa Mine contributed GH₵2.5 billion, while Damang Mine added GH₵338.9 million.
These payments alone represent a substantial boost to domestic revenue at a time when government is intensifying efforts to reduce reliance on external borrowing.
GH₵1.2 billion in royalties
Royalties paid by the company reached GH₵1.2 billion, with Tarkwa contributing GH₵1 billion and Damang GH₵201.7 million. Mining royalties, calculated as a percentage of gross revenue, provide government with steady income regardless of profitability cycles and remain a critical revenue stream for mineral-rich districts.
GH₵705.1 million in dividend
Dividend payments to government — reflecting the state’s equity participation in the mines — totalled GH₵705.1 million.
Tarkwa accounted for GH₵552.6 million while Damang contributed GH₵152.4 million.
These dividends represent direct returns to the Ghanaian people as shareholders in the country’s mineral wealth.
GH₵453 million withholding taxes
Withholding taxes paid during the year stood at GH₵453 million, made up of GH₵344.3 million from Tarkwa and GH₵108.6 million from Damang.
GH₵311.3 million PAYE taxes
In addition, the company remitted GH₵311.3 million in Pay-As-You-Earn (PAYE) taxes on behalf of its workforce — GH₵240.8 million from Tarkwa and GH₵70.5 million from Damang.
GH₵207.3 million withholding VAT
Gold Fields also paid GH₵207.3 million in withholding VAT, comprising GH₵158.1 million from Tarkwa and GH₵49.2 million from Damang.
Collectively, these payments illustrate how mining revenues extend far beyond corporate income tax, feeding into multiple tax handles that sustain national and local government budgets.
Driving local content and enterprise growth
Beyond direct fiscal contributions, Gold Fields’ impact is deeply embedded in the domestic supply chain.
In 2025, the company spent GH₵8.8 billion on procurement within Ghana, reinforcing its commitment to local content development.
GH₵6.5bn supply contracts for host communities
Of this amount, GH₵6.5 billion worth of contracts were awarded to 163 suppliers from host communities around Tarkwa and Damang.
This deliberate localisation of procurement not only stimulates small and medium-sized enterprises but also ensures that mining benefits circulate within the regions where extraction occurs.
The scale of procurement spending supports thousands of indirect jobs across logistics, engineering services, catering, civil works, security, and other ancillary industries.
It also strengthens Ghanaian businesses, enabling them to build capacity, meet international standards, and compete globally.
In an era where resource nationalism and local participation are central policy themes, Gold Fields’ procurement footprint represents a practical demonstration of value retention within the domestic economy.
Employment and income generation
Employment remains one of the most tangible benefits of mining operations.
Gold Fields reports that 70% of its employees are drawn from host communities.
This localisation of employment ensures that income generated from mining activities remains within surrounding towns and districts, supporting household livelihoods, retail trade, housing, and social services.
The GH₵311.3 million in PAYE remittances also highlights the scale of payroll within the company. Mining jobs are typically high-skilled and well-compensated, meaning their multiplier effect on the local economy is significant.
Wages earned by employees feed into consumption spending, real estate development, education, and financial services, creating a cycle of economic activity that extends beyond the mine gates.
Socio-economic development and community investment
GH₵61.75m into socio-economic development projects
In addition to taxes and procurement, Gold Fields invested GH₵61.75 million in socio-economic development projects in its host communities during the year.
These investments span infrastructure, education, healthcare, water and sanitation, and livelihood support initiatives.
Such social investments play a critical role in addressing the developmental gaps that often characterise mining communities. By funding schools, clinics, roads, and vocational programmes, the company contributes to long-term human capital formation and economic diversification.
The integration of Environmental, Social and Governance (ESG) principles into operations further signals an evolving approach to responsible mining.
The company says it continues to embed sustainability, innovation, and community development into its operational model, aligning with global best practice and investor expectations.
National economic significance
At the macroeconomic level, Gold Fields’ operations contribute to Ghana’s foreign exchange earnings, strengthen export receipts, and support the stability of the cedi.
Gold remains Ghana’s leading export commodity, and large-scale producers such as Tarkwa and Damang are pivotal to maintaining production volumes.
The GH₵5.77 billion in direct fiscal contributions alone represents a substantial share of mining-sector revenue mobilisation.
GH₵8.8 billion procurement within Ghana
When combined with procurement spending of GH₵8.8 billion within Ghana, the total measurable economic footprint of Gold Fields in 2025 exceeds GH₵14 billion — a figure that reflects both direct and indirect economic stimulation.
As the government continues to pursue industrialisation and economic transformation, stable and transparent mining revenues remain essential.
The “publish what you pay” disclosure reinforces public accountability and strengthens confidence in the governance of mineral resources.
Fuelling national growth
Gold Fields’ management described the remittances as reflective of sustained investment at its Tarkwa and Damang mines and a commitment to fuelling national growth.
In a period marked by global commodity price volatility and tightening fiscal conditions domestically, the company’s performance demonstrates how responsible resource extraction can underpin economic resilience.
From corporate taxes that finance national infrastructure, to royalties that support local government development, dividends that reward state participation, and procurement contracts that empower Ghanaian enterprises, Gold Fields’ 2025 contributions illustrate the multi-layered role of mining in Ghana’s development architecture.
The numbers released by Gold Fields provide a concrete benchmark of what large-scale mining can deliver when transparency, compliance, and community engagement are prioritised.
For Ghana, the message is clear: beyond the glitter of gold lies a substantial engine of revenue, employment, enterprise growth, and community development — one that continues to shape the country’s economic trajectory at every level.
