Galiano Gold Inc. Demonstrates Transparency with ESTMA 2024 Financial Disclosure Report
- Galiano Gold Inc. submitted its ESTMA 2024 Report, detailing $18,505,000 in payments to Ghanaian government and local entities.
- The report highlights significant contributions, including $11,051,000 in mining royalties and $1,116,000 for community development projects.
- Galiano Gold's transparency efforts position it as a leader in sustainable mining practices and corporate accountability.
Galiano Gold Inc. Enhances Transparency with Comprehensive ESTMA 2024 Report
Galiano Gold Inc. actively demonstrates its commitment to transparency and responsible mining practices through the submission of its ESTMA 2024 Report, covering the financial year from January 1, 2024, to December 31, 2024. Released on May 30, 2025, the report outlines significant payments made to the Government of Ghana and various local entities, totaling $18,505,000. This detailed financial disclosure not only highlights Galiano Gold's adherence to regulatory compliance but also reflects its dedication to fostering positive relationships with the communities and authorities in its operational regions.
Among the payments disclosed, the largest allocation is $11,051,000 directed to the Minerals Income Investment Fund, representing mining royalties. This substantial payment underscores the company's contribution to the national economy and its role in the mining sector. Additionally, the report reveals payments of $3,178,000 to the Minerals Commission for licensing and permit fees, and $2,627,000 to the Ghana Revenue Authority for royalties and withholding taxes. These figures illustrate Galiano Gold’s proactive approach to fulfilling its fiscal responsibilities and supporting the regulatory framework that governs mining activities in Ghana.
The report also emphasizes Galiano Gold's investment in community development, with $1,116,000 allocated to the Abore Community for the construction of a road, as well as smaller contributions to local initiatives, such as $225,000 to the Register General Department and $164,000 for a community center in Manso Nkran. By recording in-kind contributions at their construction costs, Galiano Gold reinforces its role as a responsible corporate citizen, prioritizing community welfare alongside its commercial interests. The report, attested by Chief Financial Officer Matthew Freeman, confirms the accuracy and completeness of the financial information, further bolstering the company's commitment to transparency.
In a sector often scrutinized for its environmental and social impacts, Galiano Gold Inc. sets a benchmark for corporate accountability through its comprehensive reporting practices. The ESTMA 2024 Report serves not only as a financial disclosure tool but also as a testament to the company's efforts to engage with stakeholders and contribute positively to the communities in which it operates.
Moreover, Galiano Gold's focus on transparency aligns with global standards for responsible mining, which increasingly demand accountability and community engagement from mining companies. This proactive stance positions Galiano Gold as a leader in sustainable mining practices, potentially enhancing its reputation within the industry and among investors who prioritize environmental, social, and governance (ESG) factors in their decision-making processes.
By committing to transparency and community investment, Galiano Gold Inc. not only strengthens its operational foundations but also paves the way for sustainable growth and positive social impact in Ghana.