Golden Star Resources Limited, operator of the Bogoso/Prestea and Wassa mines in the Western Region, has paid a total of US$22,893,410 to the government in royalty and various other payments for the first half of this year.
Royalty payments from the two mines totalled US$6,577,401 with the Wassa mine paying US$4,167,880.00, and the Bogoso/Prestea mine a total of US$2,409,521.
The Wassa Mine made another payment of US$2,874,174 as its obligation in respect of the national stabilisation levy.
The other payments made to the government included contributions to SSNIT, VAT, import duties, and withholding and pay as you earn (PAYE) taxes and permits. For these obligations Bogoso/Prestea alone paid a total of US$6,074,621. The Wassa Mine’s contribution to meet its obligations amounted to US$6,321,895.
Mr. Daniel Owiredu, Vice-President, Operations, said: “Once again we are delighted to report that we met our obligations with considerable promptitude. I must stress however that these payments continue to represent the collective efforts of management, employees and the communities -- and we are very hopeful that this trend will continue.”
The company has invested over US$850 million into the country’s economy during the past 10 years, and the impacts of this investment have been dramatic, Tom Mair, President and Chief Executive Officer of Golden Star Resources Limited, disclosed to B&FT in Accra recently.
Golden Star Resources Limited during the 2010 production year earmarked approximately US$70 million for its exploration and sustainable development projects in the country.
More than US$16 million of this investment was to be directed to new exploration projects in the Western Region, with the remainingUS$54 million put into development and sustainable capital investment for its operations in the existing mining areas.
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