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The direct economic benefits expected by the country are estimated at $ 5.3 billion over the life of the Obuasi gold mine when it reopens.
These benefits include the payment of royalties, corporation tax, employment contribution, transfers to the Community Trust Fund and the participation of local businesses in its supply chain. That's what the Ghana Chamber of Mines says.
In an exclusive interview with JoyBusiness, General Manager of the House, Sulemanu Koney described the reopening of the mine as an opportunity to boost the country's economy as well as investor confidence.
"Investors will be happy to return to the sector as Obuasi is a big brand in the mining sector in Ghana. The economic benefits and financial contribution of the Obuasi mines are enormous and represent good potential for the country, "he said.
The AngloGold Ashanti Obuasi mine (AGA) was operated in a limited manner towards the end of 2014 and has been maintained and maintained since 2016, pending the commencement of the mine redevelopment project.
AGA Obuasi has planned that the redevelopment will provide modern, mechanized underground mining.
In June 2018, the Ghana Parliament ratified the agreement between AGA and the government to convert the Obuasi mine into a profitable enterprise.
"We are delighted as this represents a fresh start for a mine that is integral to Ghana's development. A mine that has given so much in terms of socio-economic development to the people of this country and its investors. This shows that it's sometimes important to take a step back and put steps in place to improve your efficiency as a business and strengthen yourself even more, "added Mr. Koney.
First Deputy Speaker Alfred Baku congratulated the AGA Obuasi Mine Board of Directors on their efforts to secure the necessary funding to revitalize the mine. "There is no denying that AGA's determination embodies the strength of the Ghanaian mining industry, which has remained resilient even in the face of headwinds. We must take advantage of the various opportunities the mining sector offers to develop our communities, grow our economy and provide the necessary returns to all stakeholders, "he said.
AGA Obuasi is expected to win its first gold by the end of the year.
AGA Obuasi mine general manager and Ghana Chamber of Mines president Eric Asubonteng said the reopening of the mine was a result of team work and a sense of purpose. the diligence necessary to resuscitate the riches of the mine. reached and we look forward to a very successful life. We thank the government and the good people of Ghana for supporting the mine to achieve this important milestone. "
The redevelopment of the AGA Obuasi mine comes at a time when Ghana's major gold producing companies are reinvesting in their respective mines to increase production and continue operations in line with sustainable practices.
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