Ahafo North gold project, Ghana
Name of the Project
Ahafo North gold project.
Location
About 30 km north of Newmont’s existing Ahafo South operations, in 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 oz/y to 325 000 oz/y of gold for more than three-million ounces of gold production over a 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 once the mine is operational.
Newmont will work to create lasting value for host communities through local sourcing and hiring.
A key aspect of the Ahafo North project’s workforce planning will be to achieve gender parity in the workforce 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- to $850-million.
Planned Start/End Date
Construction is expected to be completed in the second half of 2023.
Latest Developments
Financing for the project was approved in July 2021.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Newmont Corporation media contact Courtney Boone, tel +1303837 5159 or emailcourtney.boone@newmont.com.
Newmont Corporation investor contact Eric Colby, tel +1303837 5724 or email eric.colby@newmont.com.
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