Ghana’s third-largest gold mining company, the Cardinal Namdini Mining Project, is set to be commissioned by President Akufo-Addo in the first week of November 2024, according to the Minister for Lands and Natural Resources, Samuel Abu Jinapor.
This new venture, located in the Talensi District of the Upper East Region, will also stand as one of the largest gold mines on the African continent, the sector minister touted.
During a tour of the Cardinal Namdini site on Thursday, October 24, 2024, Mr Jinapor made this information known, saying, “This is the first large-scale gold mine in the North, which is really historic. It is going to further consolidate Ghana’s status as a leading producer of gold in the world. This is momentous and exciting.”
Highlighting the economic importance of the mine, Mr Jinapor emphasized that it would significantly boost Ghana’s economy, create employment opportunities, and foster development in the Talensi area.
He praised the management and staff of the company for their dedication and the Ministry of Lands and the Minerals Commission for their pivotal roles in bringing the project to fruition. “It is a big project which is going to contribute hugely to the national economy of our country,” the minister noted.
Mr Jinapor added that the mine represents Ghana’s first greenfield gold mining project in nearly a decade, built from the ground up with world-class equipment and modern safety protocols. This aligns with the country’s reputation as the mining hub of Africa.
He expressed his appreciation to the project’s leadership, especially Steve Ofori, Project Manager of Cardinal Namdini, for ensuring the highest environmental standards are met.
Steve Ofori confirmed that the company has invested in cutting-edge mining technology and equipment, receiving all necessary approvals from regulatory bodies, including the Environmental Protection Agency (EPA). This, he said, ensures the mine will operate responsibly, safeguarding the environment while adhering to safety protocols.
Ghana’s mining industry is poised to see a significant boost, further cementing the country’s place among the world’s top gold producers.
Ghana is set to surpass $10 billion in gold exports by the end of 2024, according to the Chief Executive Officer of the Minerals Commission, Mr. Martin Ayisi.
This forecast made in August this year is driven by record-breaking gold prices and increased production across both small- and large-scale mining operations.
For the first half of 2024, gold exports contributed a substantial 54% to the total export value of $9.2 billion, amounting to $5 billion.
This surge is attributed to an average gold price of $2,338 per ounce in the second quarter, marking an 18% increase year-on-year and a 13% rise quarter-on-quarter.