Golden Star Resources, a mining company says it is on track to developing and unlocking the value of the Wassa Underground Gold Mine.
Graham Crew, Chief Operating Officer-Golden Star Resources, speaking during an interaction with a section of journalists in Accra described the Wassa Underground Gold Mine as a world class mine adding that the capital injection by La Mancha would further drive the development of the mine.
In 2018, La Mancha made a capital investment of US$125.7 million into Golden Star to accelerate the latter’s growth opportunities.
As part of the strategic relationship with La Mancha, Golden Star is undergoing management changes to align the company with new challenges ahead.
This year has seen the appointment of a new CEO, Andrew Wray, and the appointment of new executive team members.
“Proceeds of the transaction with La Mancha are earmarked for accelerating underground development and production at the Wassa Underground Gold Mine and the Prestea Underground Gold Mine.
“The investment also seeks to accelerate exploration and mineral reserve definition drilling at Wassa Underground, Prestea Underground and the Father Brown satellite deposits. It also seeks to fast-track the necessary studies and development of the southern portion of the Wassa Underground deposit,” he added.
Mr Crew said he was very optimistic about the prospects of the company adding that he would bring his experience in the mining sector to bear on the operations of the company.
On his view on the recently introduced Community Mining Programme by the government, he said it was a good initiative but it needed to be managed well.
He said firms that would be involved in the programme must uphold the most important industry-wide standards and practices in mining in order not to damage the environment.
“With community mining, some of these same standards need to be applied. If people are trained, there is good regulation about what the standards are for community mining, the land tenure is properly controlled, oversight from the regulator to make sure that those things are complied with – then I think international investment and community investment in mining can work hand-in-hand,” he said.
President Nana Addo Dankwa Akufo-Addo launched the Community Mining Programme in July this year at Wassa Akropong in the Western Region, with the promise that the programme is aimed at formalising mining in selected communities across the country.
With at least one community mine expected to be set up in each of the mining districts in the country, the community mines will provide employment for more than 4,500 miners that were trained by government at the University of Mines and Technology (UMaT), Tarkwa.