The reopened Obuasi Gold mine is expected to generate $5.3 billion revenue for Ghana in a period of 20 years of its life of mine.
The components of the projected $5.3 billion revenue from the Obuasi Gold mine according to the Managing Director of Anglogold Ashanti, Eric Asubonteng includes; Direct taxes to government, cooperate social responsibility, and royalties amongst others. Direct taxes to government is projected as $2.1 billion for the life of mine.
Speaking on Accra-based Citi FM, Mr Eric Asubonteng disclosed that the $5.3 billion represent 51% of the total revenue, the remaining percentage will be used to settle the initial capital investment and shareholder’s benefits.
He added that Obuasi Gold mine will now use mechanized and automated method of mining and as such fewer number of people will be employed as compared to the number previously. Therefore 2000 to 2500 Ghanaians will be employed to produce 400,000 to 500,000 ounce of gold per annum.
Meanwhile speaking at reopening of Obuasi Mine Redevelopment Project, President Akufo-Addo warned that the government will enforce the laws of the land to stop encroachment on the concessions of the mines.
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“I assure management and staff of the mine that the sequence of events that led to the closure of the mine will not recur under the watch of this Government. The days of forceful encroachment on the concession of the company, as witnessed between 2010 and 2016, are over.”
The President added Anglogold Ashanti must also work to transform the mining town for the better.
“When Government and mining companies collaborate in an intelligent and sustainable manner, more can be done to transform mining communities. I have no doubt that Anglogold, under its current management, will be a constructive partner in this journey.”
The project phase also includes the redesigned underground mine, refurbished and upgraded underground and surface infrastructure to support efficient operations.
