Newmont Announced Notable Progress on Ghana Gold Mine Project

The construction is expected to be completed in H2 2023, said the company press release.

SEATTLE (Scrap Monster): Denver-based Newmont Corporation announced that its Board of Directors have approved proposal to advance the Ahafo North Project in Ghana into the execution phase. The approval will result in profitable production from what is considered to be the best unmined gold deposit in the entire West African region.

The Ahafo North Project comprises development of four open pit mines along with construction of a stand-alone mill. The mine production is expected to average at around 275,000 to 325,000 ounces of gold for the initial five-year period. The company expects the total capital costs for the project at around $750-$850 million. The construction is expected to be completed in H2 2023, said the company press release.

The company has reportedly been meeting traditional leaders as well as local and federal government agencies. It has already secured necessary permits required to begin the construction. The project is expected to create nearly 1,800 jobs during the construction phase. Upon fully operational, the mine is expected to create more than 550 permanent job positions.

Tom Palmer, President and CEO, Newmont the Ahafo North Project will be supported by its existing South operations, thereby expanding its existing footprint in the West African region. The project will be developed and operated in a sustainable and responsible manner, he added.

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