Asante Gold pours first gold at Bibiani in Ghana

Canada’s Asante Gold has poured first gold at its Bibiani Gold Mine in Western Ghana, less than a year after acquiring the shuttered facility from Australia’s Resolute Mining.

Bibiani is a historically significant mine which produced over four million ounces of gold before being halted by previous owners. Last year, Asante commenced a refurbishment and upgrade of the process plant, tailings storage facility and mine site infrastructure, in anticipation of pouring first gold in Q3 2022.

The achievement of this target comes after Asante announced the start of commissioning and operation of the process plant last month. The mine is expected to produce 175,000 ounces of gold over the next 12 months.

Production will ramp up to 220,000 ounces annually in the second year of operations before reaching 200,000-255,000 ounces in years three to eight.

“From the outset of our acquisition of the Bibiani Gold Mine, Asante has made a number of commitments to our stakeholders, including the local community, the Government of Ghana and our investors,” said Asante CEO Dave Anthony.

“We are proud that all of the commitments we made in the past 10 months relating to the Bibiani Gold Mine have been met or exceeded, up to this time.”

The start of operations of Bibiani actually coincides with a period of falling overall gold production in Ghana, with output falling 29.2% to around 2.8 million ounces last year, Ghana Chamber of Mines President Joshua Mortoti revealed on Thursday. This means that Ghana has lost its status as Africa’s top gold producer to South Africa.