In November this year, government will inaugurate the country’s first large-scale greenfield mine in over a decade, aiming to boost gold production with an anticipated annual output exceeding 350,000 ounces.
The last large-scale greenfield mine in Ghana was commissioned in 2013 and was operated by Newmont.
Mr Martin Ayisi, Chief Executive Officer of the Minerals Commission, revealed that the new mine, named ‘The Cardinal Namdini,’ will be managed by Cardinal Resources, a subsidiary of the Chinese-owned Shandong, which secured its operating license in 2020.
Speaking the the International media, Mr Ayisi also mentioned that three additional mines are projected to commence operations by 2026, as part of the country’s strategy to leverage its natural resources for economic development.
“First is Cardinal Namdini, which is a monster mine and it will produce an average of 358,000 ounces per year. Mid-year 2025, Newmont will commission another monster mine – Ahafo North.”Ayisi was quoted as saying by Reuters.
He added that two more mines are expected to add approximately 600,000 ounces of gold to Ghana’s yearly production, while also generating additional employment opportunities.
The CEO of the Minerals Commission mentioned that another gold mine, run by Azumah Resources and Atlantic Lithium, is scheduled to begin production in 2026.
He stressed that the Commission will collaborate with the government to lower mining exploration taxes in order to attract more investors to the industry.