The Australian mining giant Cardinal Gold Resources will soon start producing gold at Namdini in the Upper East Region early next year. The move by Cardinal Gold Resources is expected to increase Ghana’s mineral revenue significantly, as well as tax intake from the sector.
Cardinal Gold Resources is currently in the construction stage, putting its plant in shape before beginning full-scale operations.
Boost to region
A former chief executive of the Minerals Commission, Tony Aubyn, told reporters that Cardinal will boost the region’s economy.
“We are praying very hard that they come on stream soon,” he said. “That will be very good.
“Cardinal as a company, it is not the size of Goldfields or Newmont, or something like that – but it is the size that is going to surprise all of us. It will be the size of the Asanko Gold, the Perseus Mining Ltd and others. But they are the ones who sit on our well-developed resource and [this one] is ready for production,” he said.
“My excitement is from the fact that this is going to be in the other [part] of Ghana. It is not going to be only in the middle and southern sections of the country … I can envisage how it will boost the economy of the Upper East,” Aubyn said.
About Cardinal Gold Resources
Cardinal Resources Ltd is a West African gold‐focused exploration and development company that holds interests in tenements within Ghana.
The company is focused on the development of the Namdini project, which has a proved and probable ore reserve of 5.1 million ounces and is now advancing feasibility studies.
Exploration programmes are also continuing at the company’s Bolgatanga and Subranum projects.
The Bolgatanga project is located in a Paleoproterozoic granite-greenstone belt in north-eastern Ghana, close to the border with Burkina Faso. The Subranum project is situated in the south-western area of the country, also within a Paleoproterozoic granite-greenstone belt.
Gold mineralisation in Ghana and along strikes in Burkina Faso is located principally within the greenstone belts. There is significant production from several gold mines in both regions, as well as from numerous small artisanal workings.