Asante commences mining at Bibiani gold mine in Ghana

Asante Gold announced today that following a receipt of the updated Environmental and Mine Operating Permits, the company commences open pit mining activities at Bibiani, Ghana’s newest mine.

The company said that open pit mining operations have started, with focus on delivery of ore from the Strauss and Walsh satellite pits, and that the #1 Cutback at the Main Pit has also started. Importantly, Asante added that first ore has been delivered to the Run of Mine Pad, more than one month ahead of schedule.

President and CEO Douglas MacQuarrie stated, “Re-start of open pit mining at Bibiani after 17 years of restructuring and development marks an exciting milestone for Ghana, for Asante and especially for the community. We thank the Ghana Environmental Protection Agency and Minerals Commission, and the Chiefs and local communities for their overwhelming support and commitment to the Bibiani Mine Project and the approval of our permits.”

The Bibiani Mine plans to pour its first gold in Q3 2022 and to produce approximately 175,000 oz of gold in its first 12 months of operation. Thereafter, the Bibiani Mine plans to produce 220,000 to 270,000 ounces every year for a minimum of 7 years.

Asante also noted it is planning to initiate development of an underground mine design at the PEA level of study in Q3 2022, with a view to developing an underground mine operation from 2026. This will provide significant overlap with open pit mining operations, which are currently scheduled to proceed into 2029.

Asante is a gold operating, exploration and development company with a high-quality portfolio of projects in Ghana, Africa’s largest and most reliable gold producer. Asante is focused on developing and operating gold projects including the Bibiani and Kubi Gold mines located on the prolific Bibiani and Ashanti Gold Belts.

Bibiani is a historically significant gold mine situated in the western region of Ghana. Bibiani has previous gold production of near 5 Moz, is fully permitted with available mining and processing infrastructure on-site consisting of a 3 million tonne per annum mill and processing plant, and existing surface and underground mining infrastructure.

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