A Chinese mining company has reported the loss of 12kg (26lbs) of gold, valued at US$900,000, during an armed robbery in Ghana earlier this year.
Beijing Xiaocheng Technology Stock Co, a gold mining firm listed on the Shenzhen stock exchange, announced in its mid-year financial report on Wednesday that “five to six” suspects had been apprehended and are currently in police custody in Ghana.
Security forces in the West African country were, “still searching for the whereabouts of the gold”, according to the company.
Africa has long been a key investment destination for Chinese companies seeking minerals and resources abroad, but concerns over security risks are increasing. In response, Beijing has pledged to enhance the protection of its workers and assets overseas.
Beijing Xiaocheng, a company involved in gold mining, production, processing, and sales, stated that Ghanaian security agencies had offered a reward for information leading to the arrest of those responsible for the robbery on April 18.
The company reported that 11 individuals were suspected of participating in the armed attack on its subsidiary, Akroma Gold Mining Co, located in Esaase, in Ghana’s eastern Kwahu West municipality.
Following the incident, Akroma implemented stricter security measures at the gold mine.
According to local media reports from April, heavily armed assailants targeted the company’s processing area, seizing gold and assaulting several workers, including Chinese expatriates.
Beijing Xiaocheng revealed that the masked attackers infiltrated the Akroma processing plant through an undeveloped section of the mine.
Despite security personnel being overpowered, resulting in injuries to workers, including Chinese nationals, there were no fatalities.
The robbers escaped with 12kg of gold that was scheduled for export that day, resulting in a direct economic loss of US$900,000, according to the company’s financial report.
Beijing Xiaocheng, which operates three gold mines in Ghana, confirmed that the Akroma mine had resumed normal operations after the attack.
The company also operates solar power generation projects, including a 20MW photovoltaic power station in Ghana that has been in operation for over a decade.
Gold is Ghana’s leading export, generating US$9.53 billion in revenue in 2022, according to data from the Observatory of Economic Complexity. Nearly half of Ghana’s gold is exported to the United Arab Emirates, with Switzerland, India, and Hong Kong also being major buyers.