The Ity mine, in Côte d’Ivoire, has produced more than 1.2 million ounces of gold in its over 20 years of operations.
Ghana Mining News
The buyer, Perth-based Red 5, is also acquiring Saracen Mineral Holdings' King of the Hills mine.
While major global companies are part of Ghana’s mining sector, illegal gold extraction is a chronic issue in the country and deadly accidents are frequent.
Only five out of the 19 illegal workers believed to have been at the pit when the accident happened have been rescued since Sunday.
The funds from Beijing would contribute towards building 1,400 km of a planned 4,000 km railway network, which would connect bauxite mines and production sites.
Government officials’ comments add bitterness to the already resentful locals, following wave of negative coverage of Chinese mining practices in the Ghanian media.
The top 10 ranking of the lowest all-in cost gold mines in the world – former US president Herbert Hoover was once in charge of no. 8 on the list.
A drill program at the mine's North Kao deposit has added 262,000 ounces to the reserves, extending Karma's life to more than 10 years.
The company, which earlier this month revealed is in merger talks with African gold producer Acacia Mining, expects to produce between 600,000 and 640,000 ounces of the precious metal this year.
Golden Star Resources Ltd. (NYSE MKT: GSS; TSX: GSC; GSE: GSR) is pleased to announce that commercial production has been achieved at its Wassa Underground Gold Mine in Ghana, effective January 1, 2017.
The renewal enables a small inventory of by-products that require further processing outside of Ghana to be shipped, which will positively impact Goldplat's earnings, analysts say.
The Johannesburg-based company, however, said it remained interested in a negotiated transaction.
Offer came on the heels of Kirkland Lake's move to buy fellow bullion miner Newmarket Gold (TSX:NMI) in an all-stock deal worth about Cdn$1 billion ($764 million).
Year to date, the company has produced 408,000 ounces of gold from its five mines in Mali, Côte d’Ivoire, and Ghana, which represents a 8% increase compared to the same period in 2015.
In the current climate of global economic and political stress, it is more important than ever for African governments to engage with their investors in a spirit of genuine partnership, Randgold Resources chief executive Mark Bristow said here today.
The investment will extend the life of the mine by eight years to 2024, in which the firm expects to produce 1.56 million ounces of gold there.
Experts say Ghana's government is unlikely to do anything before the upcoming presidential election on Dec. 7 for fear of losing votes.
Vincent Benoit will assume the newly created position of Executive Vice President, Chief Financial Officer and Corporate Development effective November 1.
Ashanti can acquire 75% of Goldplat’s majority stake in the Anumso gold project in Ghana.
The Ity mine has produced more than 1.2 million ounces of gold in its over 20 years of operations and Endeavour is working on extending the mine life by at least another 10 years.
Once the open pit Houndé mine is operational, Endeavour will add 190,000 ounces to its gold output per year.
On Monday, Asanko shares added to three-fold gains year-to-date after releasing maiden resource for satellite targets at its producing mine in West Africa.
The world’s third-biggest gold miner said its net earnings will also benefit from weaker operating currencies in South Africa, Brazil, Australia and Argentina.
Randgold Resources chief executive Mark Bristow is on a fund-raising motorbike safari, which will take him from east to west across mid-Africa.
The miner slid the most in four years after reporting first-quarter gold production fell 11% due to operational problems at Kibali and Tongon mines.