GOLD NEWS

Ghana to commission new mines for gold production boost

Fri Aug 30 2024

Ghana is set to enhance its position as Africa’s leading gold producer with the commissioning of its first large-scale greenfield mine in more than a decade, reported Reuters. The Cardinal Namdini mine, a venture by Cardinal Resources under Shandong Gold, is due to be commissioned in November 2024 and is expected to yield more than 350,000oz of gold annually.

Minerals Commission CEO Martin Ayisi was cited by the news agency as saying that the development is part of a broader initiative to rejuvenate the nation’s mining sector. The commissioning of Cardinal Namdini mine, along with three others by 2026, aims to accelerate recovery from Ghana’s significant economic downturn.

This marks a significant milestone for Ghana, which has not seen the launch of a major greenfield mine since Newmont‘s Akyem site in 2013. The introduction of these mines is expected to substantially increase Ghana’s gold output, which reached 4.03 million ounces in 2023, with a significant contribution from small-scale and artisanal miners.

Source: https://www.mining-technology.com/