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Business News Mon, 25 Jul 2011

Newmont Ahafo Mine targets 1.2 million ounces of gold

Kenyase (B/A), July 25, GNA – Newmont Ahafo Mine at Kenyase, in the Asutifi District of the Brong Ahafo Region, has targeted to increase its annual gold production to 1.2 million ounces by the year 2014.

Mr Kojo Bedu-Addo, the External Affairs Manager of the Company, said this would be achieved after the start of their underground operations.

The mine is presently doing surface mining and produces between 500,000 and 550,000 ounces yearly.

Mr Bedu-Addo made this known when members of the Journalists for Business Advocacy Group (BUSAG) visited the mine to familiarize themselves with its operations.

He said they had set their eyes on hitting the target of 1.7 million by 2017.

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Their goal is to become be leader of the mining industry through the adoption of best practices.

They are determined “to build a sustainable mining business that delivers top quartile shareholder returns while leading in safety, environmental stewardship and social responsibility.”

Mr Bedu-Addo said the company has spent $22.3 million on its alternative livelihood programmes for 1,700 households and farmers, affected by its mining activities.

The Communication Manager, Mr Agbeko Azumah, said the company was operating four pits - Apensu, Subika, Awonsu and Amoma.

It employs 4,000 Ghanaians and has set up a Development Foundation, (NADeF), to help people in the Ahafo area to become self-reliant and empower the communities.

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The Foundation provides grants, promotes knowledge-sharing, partnership and capacity building.

They are also focusing on health education and infrastructure support.

The company’s major challenges had to do with illegal miners, who had invaded its mining concession.

The Journalists were taken round the Apensu pit, the waste-water treatment plant and the environmental control dams.

Source: GNA