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AngloGold Ashanti Obuasi Mine on Wednesday, August 24, held a Development Partnership Symposium for the Implementation of its 10-Year Socio-Economic Development Plan (SEDP) in Accra.

The event was attended by a wide range of stakeholders including bilateral agencies, the private sector, foundations and development NGOs and development partners to discuss partnership opportunities for implementing the SEDP.
Mr Eric Asubonteng, Managing Director, AngloGold Ashanti Obuasi Mine in a video message said the mining firm is conscious of the state of the wellbeing of the citizens and as such it is determined to deliberately implement measures to secure their livelihoods.

“Our goal is to contribute to building resilient and socioeconomically self-sustaining communities through the implementation of a longer-term plan. But we can only achieve this through partnership with Government and other stakeholders to chart a path that reflects their collective aspirations and commitment.”

The newly introduced 10-year SEDP takes over from a previous 3-year plan which begun in 2019 and ended in 2021. According to the MD, the 3-year plan had served its purpose, but it was essential to introduce another package that will cover a longer period, hence the 10-year plan.

“As the Social Management Plan drew to a close, we commenced consultations with our stakeholders culminating in the development of a longer-term Socio-Economic Development Plan, keeping in mind the long life of the Obuasi Mine and the need to sustain community support and hence social licence to operate” he said.

The overall goal of the social management plan was to contribute to diversifying the local economy by designing and implementing innovative intentions in the areas of education and youth development, health, social infrastructure, agriculture and economic development in collaboration with our stakeholders.

Mr Sulemanu Koney, the Chief Executive Officer of the Ghana Chamber of Mines speaking at the event lauded the AngloGold Ashanti Obuasi Mines for its foresight in coming out with the 10-Year Socio-Economic Development Plan, which was aligned with the business sustainability and performance of the mine.
In November 2014, underground production was suspended at the Obuasi Mine, marking the commencement of a major restructuring programme, which saw a 4-year hiatus in operations at the Obuasi Mine.

During this period, it became patently clear that the high dependence of the Obuasi economy on the operations of the mine was unsustainable. Consequently, upon the commencement of the Obuasi Redevelopment Project in 2018, a Social Management Plan (SMP) was developed to drive the mine’s social investment for the period 2019-2021.

As the SMP drew to a close in 2021, consultations were carried out, culminating in a longer-term Socio-Economic Development Plan (SEDP) keeping in mind the longer-life of mine, and the need for continuity in sustaining community support/ social license to operate.

The SEDP represents the Social Investment Strategy for the Obuasi Mine for the period 2022-2031. It is in addition to the mine’s commitment of paying $2 for every ounce of gold mined into the AngloGold Ashanti Obuasi Community Trust Fund.

It seeks to support the Municipal and District Assemblies’ plans to improve the socio-economic wellbeing of the people. Continuous implementation of the SEDP is aligned with the business sustainability of the Obuasi Mine.