Asante Gold to start producing at Bibiani in 2022

Asante Gold to start producing at Bibiani in 2022

Publised by Cecilia Jamasmie in www.mining.com

Canada’s Asante Gold, a pure gold exploration and development company, has updated its timeline to restart its past-producing Bibiani gold mine in Ghana.

The Vancouver-based miner, which completed the acquisition of Bibiani from Australia’s Resolute Mining (ASX, LON: RSG) mid-August, expects to begin production at the asset in the third quarter of 2022.

Mining contractor tenders had been invited and mobilization is anticipated for early next year, Asante said.

More than 200 people were on site last month and the company said the process plant refurbishment was slightly ahead of schedule and on budget.

Asante aims to produce about 190,000 ounces of gold in the first 12 months of operation, ramping up to 240,000 ounces annually for at least six years.

Based on an updated feasibility study released by Resolute in July 2018, Bibiani has the potential to generate about 100,000 ounces of gold per year over a ten-year mine life at a life-of-mine all-in sustaining cost of $764 per ounce