Newmont Ahafo Development Foundation (NADeF) is a sustainable community development Foundation, which was established in May 2008 through a Foundation Agreement developed and signed between Newmont Ghana Gold Limited and the Ahafo Social Responsibility Forum (represented by 10 Ahafo Mine Communities,Local Government, Regional Government and Civil Society), to share resources granted to the Foundation through an annual contribution from Newmont to support community development programs in the area of the Ahafo Mines’ operations.
The annual contribution from Newmont comprises US$1 per ounce of gold produced and 1% of net profit from the Ahafo Mine. As part of Newmont’s annual contributions to NADeF, there is also provision for the creation of an endowment fund (with an increasing proportion of the funds earmarked as endowment funds over the life of mine).
Stakeholders are committed to ensuring that NADeF become a recognized and trusted development partner in the Ahafo communities.
The Foundation utilizes funds to support the following key areas of development:
- Human Resource Development
- Economic Empowerment
- Provision of Infrastructure
- Provision of Social Amenities
- Protection of Natural Resources
- Support for Cultural Heritage
Our communities achieve prosperity and self-reliance.
To empower communities through grants, knowledge-sharing, partnership and capacity building to achieve sustainable development.
- Integrity- We believe in sincerity in dealing with our stakeholders by upholding the highest ethical standards.
- Respect– We believe that respect for all, is key to our success.
- Stewardship – We seek to protect and grow the assets of the Foundation in the interest of the community over the long term; and manage and allocate funds with all due diligence and accountability
- Participation – We believe development is more effective when community members are actively engaged in community-driven projects and programmes.
- Inclusiveness – We seek to involve all parts of the community including the vulnerable and marginalised in our activities.
- Transparency – We commit to be open to our stakeholders.
“Creating Sustainable Futures Through Partnerships”