Nii Osah Mills commends Asanko Gold

The Minister of Lands and Natural Resources, Nii Osah Mills, has commended Asanko Gold for its excellent project delivery and shared-value approach it has employed in the process as the mine was commissioned for full-scale production.

“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,” he said.

Asanko Gold is currently, the country’s 13th goldmine; it is located at Manso-Nkran in the Amansie West district of the Ashanti Region. The mine is operated by Asanko Gold Ghana Limited, formerly known as Keegan Resources Ghana Limited - which is also owned by Asanko Gold Incorporated, an international company listed on the Toronto and New York Stock Exchanges.

Asanko Gold Ghana has transitioned from an exploration and development company into a gold producer. It poured its first gold in January 2016 after about US$300million was invested in the first phase of the project that employed about 2,500 workers -- 97% of which were Ghanaians, with 37% from the mine’s local communities.

According to the CEO and President of Asanko Gold Inc. Peter Breese: “Successfully building the first phase of the Asanko Gold Mine demonstrates that Ghana has a highly skilled employee base that we have been able to attract to our company”.

Asanko Gold currently produces 2,500 ounces of gold every week, and this is expected to increase to about 3,500 ounces from July 2016. This will put Asanko on a similar production scale to AngloGold Ashanti’s Iduapriem Mine.

The company is aiming to produce about 190,000 ounces of gold annually from 2017 over the mine’s 12-year lifespan.

Mr. Breese added that preparations are far-advanced to establish the second phase of the mine in 2017. “We are still a young, growing organisation. We look to the future with the second phase of the mine already at the planning stage. Phase-2 will increase production by a further 100% in the two stages, and see an additional US$300million invested in Ghana.

“We continue to work with our host communities and regulatory authorities on the finer details of permitting and technical specifications for this project, which will further enhance our contribution to the Ghanaian economy as a whole,” he said.

Dr. Ben Adoo, Non-Executive Chairman of Asanko Gold Ghana, also said: “The development of Asanko Gold Mine offers a golden opportunity to improve the 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 implemented a number of empowerment initiatives in education, financial literacy, and vocational training to demonstrate our long-term commitment to our host communities.”