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Newmont may lift Ghana gold output Posted: Mon, 07 Aug 2006 [miningmx.com] -- It just keeps getting better and better for Newmont Mining in Ghana where the first gold has now been poured at the North American group’s Ahafo gold mine, expected to produce 260,000 oz for the rest of 2006. Commercial production from the new mine is expected during the current third quarter and the average annual expected gold production over the life of the mine is forecast at between 500,000 oz and 550,000 oz. But that estimate could be exceeded according to Bob Gallagher, vice-president for Newmont’s Indonesian and Australian operations. Interviewed at the Diggers and Dealers Mining Forum being held in Kalgoorlie, Gallagher said Newmont was already in pre-feasibility work looking at going underground at Ahafo. If that goes ahead, then production would take place simultaneously from both open cast and underground operations. Things are running so well at Ahafo that Gallagher indicated processing plant intended for the group’s second mine in Ghana – Akyem – may in fact be diverted to Ahafo to push up output from the mine even faster. Akyem is expected to produce between 475,000 oz and 525,000 oz of gold annually. Construction is supposed to start this year with the first gold to be produced in 2008. Gallagher says construction has not yet started as Newmont is still waiting for the necessary permits to be issued. Current indication for Newmont’s total output from Ghana from these two mines is around 1 million oz annually, but it seems that forecast could easily be beaten. Newmont acquired the two Ghanaian exploration projects when it took over Australian gold producer Normandy some four years ago. No value was attributed to the Ghanaian projects in that deal. So far exploration work has found resources amounting to more than 13 million oz of gold in Ghana with, apparently, more to come.Free news alerts: click here to subscribe
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