The Asanko Gold Mine, Ghana’s newest gold mine, owned and operated by Asanko Gold Ghana Ltd (formerly known as Keegan Resources Ghana Ltd) is a proud addition to the ranks of Ghanaian gold producers.
The mine was built within the US$295 capital budget and commissioned a month ahead of schedule. Gold production commenced on 26 January 2016 and the first phase of the mine will produce an average of 190,000 ounces of gold a year over a twelve year life of mine. Over 2,500 workers were involved in the construction of the mine, 97% of them Ghanaian and 37% from the mine’s local communities.
His Majesty the King of Ashanti, Otumfuo Osei Tutu II, praised Asanko Gold for the substantial investment the Company has made at a critical time in the Ghanaian and indeed the global mining industry. He asked all stakeholders to support and cooperate fully with the mine so the benefits of the investment made can be maximized for the benefit of all concerned.
The Minister commended Asanko Gold for its excellent project delivery and for the shared value approach the company has employed in ensuring that all stakeholders benefited from the asset. He stated “It is our expectation that other investors will take a cue from Asanko Gold’s example given the limitless opportunities available in Ghana. Government on its part will continue to work with such investors by providing the needed support and assistance while facilitating strong linkages with local industries and the economy”.
Peter Breese, CEO and President of Asanko Gold Inc. added “Today is a very proud day for Asanko Gold as we celebrate the official commissioning of Ghana’s newest mine, the Asanko Gold Mine at Obotan in the Amansie West District of the Ashanti Region, and join the ranks of global gold producers.
Building a mine is always a complex process and to build the Asanko Gold Mine within budget and a month ahead of schedule is a testament to our experienced management team, the high level of technical skills available here in Ghana as well as the strong support the Project has received from Government and our host communities.
The Asanko Gold Mine has the potential to become a major player in the Ghanaian gold industry and we are already working on plans to expand the mine with the second phase of development, which will increase production by approximately 50%. We are busy finalising the feasibility study and the permitting process and expect to start work in early 2017.
Dr Ben Adoo, Non-Executive Chairman of Asanko Gold Ghana said “As we transition from an exploration and development company into a gold producer, we have a duty to all our stakeholders to mine smartly and responsibly and create a positive, self-sustaining legacy.
The development of the Asanko Gold Mine offers a golden opportunity to improve quality of life and support the dreams and aspirations of many local Ghanaians through employment, wide ranging socioeconomic benefits and skills development. Even before the mine produced its first gold bar, we have implemented a number of empowerment initiatives in education, financial literacy and vocational training to demonstrate our long-term commitment to our host communities.
With on-going support from our host communities, business partners, regulatory authorities and Government, we will continue to strive diligently to keep the Asanko Gold star shining bright for the benefit of all our stakeholders.”
The Asanko Gold Mine – Key Facts
The Asanko Gold Mine is an open-pit mining operation, comprising the Nkran pit with four satellite deposits (Abore, Asuadai, Dynamite Hill and Adubiaso), and a 3Mtpa carbon-in-leach processing plantfacility at Obotan. The second phase of the Asanko Gold Mine will integrate the Esaase deposit, which will be an open pit mining operation, and the ore will be transported to the Obotan processing plant via an overland conveyor. The Asanko Gold Mine is owned by Asanko Gold Ghana Limited.
Resources: 7.9 million ounces at 1.71g/t
Reserves: 5.2 million ounces at 1.68g/t
Phase 1 production: an average of 190,000 ounces of gold per year
Life of mine: 12.5 years
Current Workforce: Approximately 1,500 people; 400 employees, 442 mining contractors and 658 other contractors
Asanko Gold is managed by highly skilled and successful technical, operational and financial professionals.
The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
Asanko Gold Ghana, which operates the Asanko Gold Mine, is owned by Asanko Gold Inc, the internationally company listed on the Toronto and New York Stock Exchanges.
Peter Breese, CEO and President of Asanko Gold Inc thanked all the stakeholders involved – our employees and contractors, local communities, business partners, regulatory authorities and Government – who contributed their part in turning a project plan into a reality. This is a tremendous accomplishment.
Located at Manso Nkran in the Amansie West District of Ashanti Region, was officially commissioned under the distinguished patronage of His Majesty the King of Ashanti, Otumfuo Osei Tutu II in a formal ceremony with Guest of Honour the Honourable Nii Osah Mills, Minister for Lands and Natural Resources.
Other Dignitaries that grace the occasion were the Minister was joined by the Ashanti Regional Minister Honourable John Ackon, Deputy Minister of Mines, Honourable Kwabena Akandoh and Dr. Toni Aubynn, Chief Executive Officer of the Minerals Commission.
Also present were Kwame Addo-Kufour and Sulemanu Koney, President and CEO respectively of the Ghana Chamber of Mines, as well as Colin Steyn and Peter Breese, Chairman and CEO of Asanko Gold Inc respectively, Dr Ben Adoo and Josephat Zvaipa, Chairman and Managing Director of Asanko Gold Ghana respectively.
By: Sheila A. Williams
