Thursday, March 14, 2013

Oware embarks on underground mining


Owere Mines at Konongo in the Asante Akim-North Municipality has commenced underground gold mining as part of the company’s plan to boost production.

Mr. Bill Appiah, the Liaison Manager, told journalists that the company plans to suspend  surface mining operations, which is proving to be non-viable and unsustainable for the mine's future.

He said the company has been losing about a million in cash every month due to the low extraction of gold from its surface mining operations.

“Trial mining at the surface will be suspended in the interim, so that resources can be directed to a more sustainable development strategy,” he said.

Mr. Appiah said almost half of the workforce is to be laid-off to allow the mine to focus on underground activity, and the affected workers will however be adequately compensated.

He said more workers will be engaged when the underground exploration shows positive signs of high gold deposits.

Mr. Appiah said the company is upbeat about the future of the mine, since the company's concession is on the same belt as Obuasi. 

Mr. Micheal Ataogye, the Municipal Coordinating Director, appealed to the people to show understanding as the company re-strategises to become more viable in the interest of all stakeholders.

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