Tuesday, 8th February 2005 (2623 views)

Newmont Mining is to start mining at one of its Ghanaian mines in the second half of 2005, according to latest reports from the world's largest gold producer.

It is hoped the first gold produced from the Ahafo mine will be seen in the second half of 2006.

Nearby, the Akyen project is set to produce its first gold in 2007 and is expected to produce around 450,000 to 500,000 ounces per year.

William Zisch, group executive for Newmont's Africa operations, told Reuters: "Ahafo and Akyen illustrate the power of taking smaller deposits and growing them through exploration, re-evaluation and ingenuity.

"The discovery rate has provided the opportunity to build a long lived core district with Ghana as the cornerstone of Newmont's African strategy," he added.

Mr Zisch explained that the mines had a similar cost structure and anticipated life span.

 

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