Ghana now accounts for about 42% of the company's gold output.
According to the Ghana Statistical Service, the total value of goods and services produced in Ghana grew by 8.7% in the first quarter of 2012, relative to that of 2011.
The 513 Prospect is situated within PMI's Kubi Project and is located on the altered eastern margin of the north-east trending Ashanti Shear, which controls the world-class Ashanti Obuasi Gold Mine, 15km to the north.
Golden Star Resources holds the largest land package in one of the world's largest and most prolific gold producing regions in Ghana.
Last year, Africa was the region that witnessed the strongest growth in gold-mining operations. In an exclusive interview with The Gold Report, Nana Sangmuah, managing director of research with Toronto-based Clarus Securities, expects that trend to continue and suggests some immediate smart investments in Ghana, Mali, Liberia and the Democratic Republic of the Congo.
Nick Holland of CEO Gold Fields said on Monday the company has plonked $63 million on a second gold-copper project in the Philippines. The globe's fourth-largest gold miner also announced it is suspending drilling in Mali, Africa's third largest gold producer following a military coup.
Shares in Newmont Mining was down 2.7% on Friday after the company announced a $1.6 billion charge after mothballing its Hope Bay project in northern Canada.
Newmont Mining, world number two gold producer, said on Wednesday it has options to spend its capital elsewhere to meet production targets if its $4.8 billion Conga project in Peru does not restart.
Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) announces that Emmaland Resources Limited, its Ghanaian joint venture partner ("Emmaland"), has received from the Government of the Republic of Ghana, through the Minister for Lands and Natural Resources (Ghana) ("Minister"), three prospecting licenses covering lands located in the Zabzugu-Tatale District in the Northern Region of the Republic of Ghana, and referred to as the Sheini Hills Iron Project (approximately 400 square kilometres in aggregate).
Residents of Kwame Boahenkrom in the Asutifi north district of the Brong Ahafo Region have threatened to deal ruthlessly with Newmont Ghana Gold Limited if they do not halt polluting their water bodies.
A long legal battle is looming over who has the right to mine iron ore in the Sheini Hills at Zabzugu-Tatale in the Northern region of Ghana.
Gold Fields Ltd., the fourth-biggest producer of the metal, said Ghana’s plan to raise tariffs on mines and introduce a windfall tax could force it to halt expansion projects worth $1 billion in the country.
Adamus Resources Limited is pleased to announce that its ongoing exploration program has returned positive results from the recent RC drilling program at its Kanyankaw project (22km east of the Nzema Gold Project), located between Tarkwa and the port town of Takoradi.
Keegan Resources Inc. (TSX:KGN)(NYSE Amex:KGN) ("Keegan" or the "Company) is pleased to announce that it has entered into a written settlement agreement with two parties who together hold a 60% interest in the outcome of the litigation commenced in 2009 in Accra, Ghana involving the Company's Esaase Project.
Ghana will seek to boost revenues from its mining industry next year by hiking taxes, according to a text of the 2012 budget delivered to parliament.
Ghana will seek to boost revenues from its mining industry next year by hiking taxes, according to a text of the 2012 budget delivered to parliament on Wednesday.
The corporate tax rate on miners will increase to 35% from 25% and a separate 10% tax on windfall profits will be introduced, according to the text.
Reuters reports Canadian gold miner IAMGold is on the look-out for acquisitions and while it is not itself up for sale, its chief executive said on Friday the company represents good value right now.
IAMGold has in the past said interested in various stage projects, from exploration through to production and just over the last fortnight has put money into three South American juniors. IAMGold produces roughly 1 million ounces per year from operations in Africa and North and South America and sees bullion topping out at $2,000 an ounce this year or next from current levels around $1,790.
Perseus Mining (TSE:PRU), a West African gold explorer and miner, completed a Can$81.25 million equity offering.
The offering, 25 million ordinary shares at Can$3.25 each, was underwritten by a syndicate of underwriters co-led by Clarus Securities Inc., Dundee Securities Ltd. and CIBC World Markets Inc.
Funds will be used to develop the Sissingue gold deposit at the Tengréla Gold project, as well as for general corporate purposes.
Newmont Ghana Gold Limited has paid more than $47 million (GH¢71.44 million), representing taxes, royalties and levies for the third quarter of this year, to government.
A dispute between investment banker Euro Pacific Canada Inc. and Midlands Minerals Corp. (CVE:MEX) is drawing in two of the biggest names in the gold investing industry.
The Globe and Mail is reporting that Euro Pacific Canada is seeking damages of $10 million from Midlands over a breach of contract — an amount that is actually larger than the tiny explorer's market cap of $7.21 million based on today's counter.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 20, 2011) – Abzu Gold Ltd. (TSX VENTURE:ABS)(OTCQX:ABZUF) ("Abzu") is pleased to announce the discovery of a new mineralized zone on its 100% owned Asafo concession located along the eastern …
Perseus Mining Ltd in an update on commissioning at its Edikan gold mine in Ghana said the process plant is currently achieving increasing rates of utilisation (87%) and mill throughput rates have recently been tested to 730t/hr for short periods on fresh/transition ore blends.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 12, 2011) – Abzu Gold Ltd. (TSX VENTURE:ABS)(OTCQX:ABZUF) ("Abzu") is pleased to announce commencement of drilling at its Nangodi concession, Bole-Nangodi Gold Belt, Ghana (Figure 1: http://media3….
SRK Consulting has opened a practice in Ghana’s capital, Accra. This follows several decades of involvement in West Africa and will consolidate SRK’s position in the region.
The Ghana government handed over state-owned Ghana Consolidated Diamonds (GCD) to a new investor, Great Consolidated Diamond Ghana Ltd (GCDGL), at a ceremony held on Tuesday in Akwatia, 80 km northwest of here.
AngloGold Ashanti (ANG), the world's third largest gold producer, is in trouble with a human rights group in Ghana after the shooting of a civilian by private security at its Obuasi Mine.
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