President Akufo-Addo urges AngloGold Ashanti to use Obuasi Mine to transform the economy of local communities

Nana Akufo-Addo was speaking at a ceremony to commemorate the first gold pour of the redeveloped Obuasi Mine. This was after the operations at the Obuasi mines was suspended five years ago.

He called on the management of the mine to work with community leaders where they are located to reduce poverty in such areas.

“I expect the first pour to mark the return to winning ways, not just for Obuasi and AngloGold, but for the mining sector in Ghana as a whole. I am counting on this mine, to pull the adjoining communities out of their poverty and enable them to reflect the wealth that their soil has generated.”

The president added that the company will contribute $2 per ounce of gold produced into a Community Trust Fund to facilitate development projects.

“It is gratifying to note that beyond its regular corporate social contributions, the company will contribute two dollars per every ounce of gold produced into a Community Trust Fund over the life of the mine to facilitate development projects in the community.”

Even before the commencement of gold production by the company, a contribution of US$250,000 dollars has been paid into the Community Trust Fund, part of which has been used for some infrastructural projects.

The CEO of AngloGold Ashanti, Kelvin Dushnisky said the Obuasi Mine is expected to produce 400,000 ounces every year for the first ten years.

The company said it has invested between US$500 and US$550 million for the turnaround of the Obuasi Mine.

The CEO said it has adopted a modern way of mining which will be solely mechanized.

“From the onset, we had a vision of modern mining operations; an operation that is not just based on the best technology available, but one that is based on deep partnership with stakeholders at the national and local level,” the CEO said.

“We have also made a commitment to maximize local content development. We recognize the need to deepen the participation of Ghanaians at every stage of this enterprise. We prioritize local employment and skills development. We have assisted the Ghanaian businesses to stand in front of the line when it comes to rebuilding and operating the new mine” he added.