Business News of Thursday, 10 May 2012Source: GNA Barring any hitch, Azumah Resources Limited, an Australian Gold Exploration Company operating in the Upper West Region will start active commercial scale gold mining in the emerging north-west Ghana gold province in 2013.
The Wa Gold Project is expected to be holding 754,300 ounces of gold, with the Kunche reserves recording the highest gold deposit of 516,000 ounces.
Mr. Stephen Stone, Managing Director of Azumah Resources made this known during the opening of a two-million US dollar residential camp for the company’s officials and workers at Kalsagla, near Nadowli in the Nadowli District on Wednesday.
He said Azumah’s 3,100 kilometre square licence, encompass 150 strike kilometres of Birimian –age greenstone terrain, while its ampella’s licences lie directly across border in Burkina Faso in the same Brimian greenstone belt.
He said so far the company had invested 20 million US dollars in gold exploration during the past six years alone and was spending 1.5 million US dollars on monthly basis on exploration.
Mr. Stone announced that, the company was also exploring for gold at a concession in the Wa East District, adding that, gold mining in the region will mark the beginning of a turning point vision to empower local people economically and socially to come out from the shackles of poverty and enhance livelihoods.
He said Ghana had a track record in gold mining investment and development with low country risk rating; with supportive legal system and stable government as well as an English- speaking population.
The Managing Director expressed the hope that with the support of local people, more exploration would be done and the possibility that more gold would be discovered in the area.
Mr. Stone said, so far Azumah had trained farmers on agricultural practices, provided potable water facilities, supported the Nadowli District Hospital with equipment and distributed footballs and jerseys to youth football clubs among others, as part of its corporate social responsibility and commitment to the people.
Some observers who graced the occasion were of the opinion that with the activities of Azumah, many gold and other minerals exploration companies would come to the region to compete; which could lead to the discovery of more minerals in the region.
According to them, not much knowledge of minerals deposits are known about the north and appealed to investors to take advantage of the favourable conditions in the region to come and explore.**