Saturday, July 20, 2024

Asante Gold reroutes Bibiani-Goaso Highway to expand mining operation

Asante Gold Corporation has announced that the Bibiani-Goaso Highway has been rerouted following the recent completion of two detour roads, allowing for the further development of the open pit and the underground at the Bibiani Gold Mine.

This vital step advances the Company’s plans to grow gold production at Bibiani to more than 250,000 ounces per year, with cumulative production of 1.2 million ounces of gold anticipated over the next five years, at lower all-in sustaining costs (“AISC”), as detailed in the 2024 Bibiani Technical Report (“Technical Report”). 

Rerouting the highway gives the Company access to approximately 170,000 ounces of contained gold from the Main Pit in the next 12 months and supports planning to process 250,000 ounces from 2026 fiscal year onwards.

The oxide mineralization from near surface at the southern portion of the Main Pit allows higher gold recovery while the Sulphide Recovery Plant is being installed. 

Re-routing the highway creates the ability to increase monthly production to over 20,000 ounces within eight months. Over the longer term, it supports the Company’s plans to explore and extend mine life well into the next decade at Bibiani.

Rerouting of the Bibiani-Goaso Highway became possible following the successful planning, design and construction of two detour roads which provide easier access to commuters and represent a major accomplishment for Asante. 

Planning of the two detour roads required extensive consultation and support of key stakeholders such as Ghana’s Ministry of Roads and Transport, the Ghana Highway Authority, the Department of Feeder Roads, Regional Ministry, traditional authorities, local community committees, the Bibiani-Anhwiaso-Bekwai Municipal Assembly, transport organisations, community members and other stakeholders.  Asante thanks all stakeholders at Bibiani for their constructive participation in the process. 

Having reached this significant milestone is critical to ensuring the long-term sustainable development of Bibiani. 

With the two completed detour roads, the Company has provided safe and efficient travel to farms, plantations and communities for all stakeholders that have previously used the Bibiani-Goaso Highway. 

Asante looks forward to working with its communities and stakeholders in a mutually beneficial relationship for many years to come.

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