Ghana’s gold producer to contribute $2 for every ounce produced to develop communities

Ghana’s President, Akufo-Addo has disclosed that the AngloGold Ashanti Limited has agreed to contribute $2 for every ounce of gold produced into a Community Trust Fund.

Ghana’s gold producer to contribute $2 for every ounce produced to develop communities

The move, according to him, is aimed at facilitating development projects in the local communities of the area.

President Akufo-Addo added that one-off contribution of US$250,000 has been paid into the Trust Fund to develop these local communities ahead of the company’s commencement of gold production at the mine.

“Government will also work with AngloGold Ashanti Limited to ensure that all social and environmental concerns, with respect to the reclamation and restoration of the mine sites, are satisfactorily addressed, and these areas put back to good use for the benefit of the communities within the catchment areas,” he said.

He spoke at the commemoration of the first gold pour of the Anglogold Ashanti Obuasi Mine on Wednesday, January 29, 2020.

The President said the government will prioritize the enhancement of local content in the mining industry in Ghana

"Government is engaging closely with the Anglogold Ashanti to ensure that the Obuasi Redevelopment Project places a premium on local content, with a greater percentage of capital being spent in-country," he stated.

Adding that "Preference should be given to Ghanaian companies in the procurement of goods and services in the supply value-chain, from the large-value underground mining contracts, through petroleum supply, to catering and security contracts. Ghanaian professionals must also be prioritized for employment opportunities, and localisation policies fully implemented to the letter. I am aware that the current promoters of this mine are committed to this goal."

AngloGold Ashanti begins active production

The Obuasi Mine, managed by the AngloGold Ashanti on Wednesday, January 29 returned to productivity after its first gold pours since 2014.

Additionally, a mechanized underground mine has been established to enable AngloGold Ashanti to mine a 30-million-ounce ore body over the next two decades.

Mine will primarily produce at the rate of 2,000 tons per day, and scaling-up to 4,000 tons per day by year-end.

It also is expected to produce an average of 350,000 ounces of gold per annum for the first ten years, and 400,000 ounces per annum over the remaining lifespan of the mine.

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