Gold miner Newmont to advance Ahafo North Project in Ghana

Afrika Gold AG

15/07/2021 13:48

July 15 (Reuters) - Gold miner Newmont Corp  NEM.N  said on
Thursday its board approved full funding to advance its Ahafo
North Project in Ghana into the execution phase. 
    The project, located 30 kilometers north of the company's
existing Ahafo South operations, will add more than three
million ounces of gold production over an initial 13-year mine
life, the company said.
    The top gold producer estimated capital costs to be between
$750 million and $850 million, with construction expected to be
completed in the second half of 2023. 
    Production from the mine will average about 275,000 to
325,000 gold ounces with all-in sustaining costs of $600 to $700
per ounce for the first five years, Newmont said.
    Commercial production at Ahafo began in 2006, which has two
primary ore zones, Ahafo South and Ahafo North. 
    

 (Reporting by Sahil Shaw in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Sahil.Shaw@thomsonreuters.com;))