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Wassa Mine in Ghana set for expansion

The Wassa Mine in Ghana is set for expansion. The new owners of Golden Star Resources Limited, Chifeng Jilong Gold Mining Limited made the announcement and pledged to inject more capital into the operations of the mine.

The Chairman and Chief Executive Officer of the Chifeng Gold Group, Mr Wang Jianhua, revealed that discussions were underway with Stanbic Bank Ghana and its parent bank, the Standard Bank of South Africa, for a $90-million facility to invest in the mine.

Golden Star Resources’ Wassa mine concession was sold to ChifengJilong Gold Company, a Chinese mining firm, after a deal was reached in January 28, 2022. Chifeng is an international Gold Mining Company listed on the Shanghai Stock Exchange with a market capitalisation of approximately US$3.7 billion.

Exploration

The Chairman and CEO said the new investment would be channeled into exploration, upgrading of their operations by acquiring more environmentally-friendly equipment to reduce carbon emissions, and also for future expansion of the mine.

“I fully believe in the competence and capabilities of my team to deliver and serve stakeholders that work with us. the management of the mine was determined to grow the mine and also increase its output. I am very confident that we will not make any decisions that will affect and undermine it,” Jianhua said.

MrJianhua said the acquisition was a key strength of the company and he was privileged to inherit a talented and dedicated team.

“One of my key priorities is to ensure that the Wassa Mine continues to develop and that we remain a trusted and valued partner for all our stakeholders,” he said.

He said in addition to the values of caring, fairness, respect, honesty, and collaboration in all relationships, Chifeng Gold was committed to upholding the highest standards of safety, employee wellbeing, and protection of the environment and strives to be a responsible corporate citizen.

 

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