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The President of the Republic, Nana Addo Dankwa Akufo-Addo, has expressed his delight at the return to production, productivity, and profitability of the Anglogold Ashanti Gold mine, six (6) years after it was effectively closed down.

According to President Akufo-Addo, the coming back on stream of the Obuasi mine signals to the rest of the world “new beginnings for Obuasi, which will help in spurring on the development of our country”.

Speaking at an event commemorating the first gold pour of the Anglogold Ashanti Mine, on Wednesday, 29th January, 2020, the President recounted how, on 22nd January, 2019, he launched the Obuasi Mine Redevelopment Project, whose aim was to signal a return to operation of the Obuasi mine, which had been effectively closed since 2014.

According to President Akufo-Addo, “the shutdown of the mine brought in its wake severe levels of hardship to a community whose major preoccupation is mining. Employees, both direct and indirect, felt the brunt of the closure, with equally devastating effects to several actors along the value chain, be they mine support service companies, security and telecommunications providers or financial institutions.”

In fulfilment of a 2016 campaign pledge to the people of Obuasi, he indicated that his assumption of office saw the holding of a series of discussions and negotiations and the provision of a number of fiscal incentives, which led, firstly, to the establishment of the Re-Development Project of the Obuasi mine, “and brought us, secondly, to this day when we effect the ceremonial celebration of the first gold pour of the mine.”

Addressing the gathering, the President noted that the vision of the Project has been to deliver a modern, state-of-the-art, mechanized underground mine, that will enable AngloGold Ashanti Limited to mine its 30-million-ounce ore body over the next two decades.

“I am also advised that this mine, mining at the rate of two thousand (2,000) tons per day, and scaling-up to four thousand (4,000) tons per day by year-end, would be producing an average of three hundred and fifty thousand (350,000) ounces of gold per annum for the first ten years, and over four hundred thousand (400,000) ounces per annum over the remainder of the life of the mine. Efficient production will make it a profitable venture,” he said.