9th Jul 2018 11:33
LONDON (Alliance News) - GoldStone Resources Ltd on Monday noted that Johannesburg-listed AngloGold Ashanti Ltd secured environmental permits for its Obuasi gold mine in Ghana.
The exploration company said Obuasi mine is located eight kilometres along strike from Akrokeri-Homase gold project, which GoldStone seeks to bring back into production.
The granting of the permits by Ghana's Environmental Protection agency highlights the in-country support for the redevelopment of goldmines and underpins the pro-mining environment in Ghana, GoldStone said.
Back in February, mining company AngloGold committed to spend USD31 million for front-end engineering and other preparatory work as part of their USD500 million investment for the redevelopment of the Obuasi mine.
GoldStone believes that the Obuasi mine and its development plans underpin the significant potential of the Akrokeri-Homase project, which contains two gold mines: Akrokeri underground mine and the Homase open pit. The deposits have previously produced 75,000 and 52,000 ounces of gold, respectively.
"With the news of the Obuasi mine getting governmental support and AngloGold committing over USD500 million funds, we are highly encouraged by the local and national operational environment of our Akrokeri-Homase gold project as we seek to progress towards production within two years," said Chief Executive Emma Priestley.
Shares in GoldStone were trading 9.7% higher on Monday at 2.03 pence each.
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