GHANA PRESIDENT RE-OPENS OBUASI GOLD MINE

Ghana President re-opens obuasi Gold mine which will help increase revenue for the next 22 years.

In an effort to boost the sector, Ghana President has open the obuasi mine. The Gold mine which is over 100 years old is part of the President campaign plans during the last election.

The mine which is located at Anglogold Ashanti will help the community as well as grow the nation economy. Meanwhile, the news is met with great joy as the mine has been closed since 2014. The re-opening will help create about 2,500 jobs for residents in the area.

President Akufo-Addo said “It will secure investment for this project. He also said that the government will guarantee the  stability of the project against legal changes in environment.””

Meanwhile, the initial investment in the redevelopment of the project is worth US$881m. It will also have a total of US$1.6 billion that will be use for the entire 22 years life span of the mine.

The project will enable production to be at a rate of 2000 per year for the first operating year. It will also be expected to produce its first Pure gold before the year is over.  According to report, the mine was closed because of operational challenges that almost destroy the mine.

This challenges includes, operating with an obsolete equipment, poor security and inadequate power supply. Meanwhile, the mine will be operated behind development which will meant that there were no new stops (new area or location ) to mine underground.

President Afufo-Addo re-open the mine in the present of chief and people of Obuasi with some government officials present. According to the President, the government will get a return of U$2.16 billion in revenue for the next 22 years.

 

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