Newmont Ghana was granted a mining lease by the The Ghanaian Ministry of Lands and Natural Resources that allows us to commence gold mining at Akyem. Additionally, the Minerals Commission approved the mining area within the lease boundaries following an environmental permit issued by the Environmental Protection Agency early last year.
The Akyem project team has engaged community stakeholders, which has earned the project unprecedented support within the Akyem project area community. As part of the project team's ongoing commitment to raising community awareness about all aspects of the project and listening to community members' concerns, the team held more than 600 meetings over the past five years, including "durbars" (formal community meetings) and focus groups. These meetings targeted different sections of the community such as youth, farmers, women, traditional authorities and local government agencies.
Community members visited Newmont's Ahafo mine to see mining in action and how the mine's environmental and social impacts are being mitigated. They also viewed a closed mine (Amansie Resolute) to see how a mine is closed and reclaimed. This proactive approach has established a solid base of good community relations for the project.
Newmont's board of directors is reviewing details of the proposed investment and development timeline. The estimated timeline says that production could begin in late 2013 or 2014. The project remains in the planning phase, with feasibility studies under way to assess development requirements. Akyem is estimated to have a reserve of 7.7 million ounces of gold.
