Asante Gold completes sulphide plant construction at Bibiani mine in Ghana

Asante Gold (TSXV: ASE) announced on Monday that the construction and commissioning of the sulphide plant at its Bibiani gold mine in Ghana have been completed.
 
Asante has been ramping up activity at Bibiani throughout the year, funded by the initial $100 million deposit from Fujairah Holdings, its second-largest shareholder. The funding is part of a $500 million gold forward sale deal signed in December 2024.

In a press release, the company said the 12-hour-per-day operations to process Bibiani ore started on Saturday and will ramp up to 24 hours a day on Sept. 30. Optimization to achieve over 85% gold recovery will progress through October, taking the recovery rate from 60% to as high as 92% by month end, it added.

The project’s nameplate capacity is estimated at 4 million tonnes per year. Aerial drone footage of the plant can be viewed here.

“This is a year of executing our strategic plan to allocate significant capital to our mining and processing operations at both Bibiani and Chirano. With the finances now in hand, we expect to grow long-term gold production to 450,000 to 500,000 ounces of gold per year,” CEO Dave Anthony stated.

“With construction and commissioning of the Bibiani sulphide treatment plant complete, we are focused on the next phase, which moves the plant into operation, ramp-up, testing and optimization to achieve 92% recovery and enhance Bibiani’s growth profile.”

Asante’s Toronto-listed shares closed the day up 2.84%. The company has a C$1.75 billion ($1.26 billion) market capitalization.