Ahafo North gold project, Ghana
Name of the Project
Ahafo North gold project.
Location
Along the north-east-trending Sefwi volcanic belt, in western Ghana.
Project Owner/s
Newmont Corporation.
Project Description
The Ahafo North project will include four openpit mines and the construction of a standalone mill.
Production from the mine will average about 275 000 to 325 000 gold ounces a year.
The project includes the construction of a 3.7-million-tonne-a-year processing plant and the construction of a tailings and wastewater management storage facility.
The project will add more than three-million ounces of gold production over an initial 13-year mine life.
Potential Job Creation
The project will create about 1 800 jobs at the peak of construction, with more than 550 permanent roles created once the mine is operational.
A key aspect of workforce planning will be gender parity when operations begin.
Net Present Value/Internal Rate of Return
At current gold prices, the project is expected to deliver more than a 30% internal rate of return.
Capital Expenditure
Projected capital costs are estimated to be between $750-million to $850-million.
Planned Start/End Date
Construction is expected to be complete in the second half of 2023.
Latest Developments
Newmont approved the project in July 2021.
The company is finalising engineering, procurement and construction management services.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Newmont Corporation media contact Courtney Boone, tel +1303837 5159 or email Courtney.boone@newmont.com; or investor contact Eric Colby, tel +1303837 5724.
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