IFC PUMPS MONEY INTO GHANA GOLD MINE
July 1st, 2006
BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC) of the World Bank is pumping US$125 million into Ghana's Ahafo gold mine project, which is controlled by a subsidiary of the USA-based Newmont Mining Corporation. Part of the money will help tackle criticism from aid groups that the open pit project will displace or affect the livelihoods of 9,000 people. The loan will help fund programmes assisting these rural communities and enable them to establish small businesses serving the mine and its personnel. The corporation is also implementing a ...
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