Newmont subsidiary up and running in Ghana

Akyem gold mine, Ghanaian subsidiary of top US gold producer Newmont, announced that it reached commercial production last Friday.

The project is targeting production between 350,000 and 450,000 ounces per year during the first five years, at all-in sustaining costs of $750 to $850 per ounce.

Gold output is expected to reach between 50,000 and 100,000 ounces for 2013.

The company claims that it will employ 1,300 employees and contractors, including a majority of people from nearby communities.

Akyem is in eastern Ghana, in the Birim North district.