AngloGold Ashanti Obuasi Mine on Wednesday, August 24, held a development partnership symposium for the implementation of its 10-year Socio-Economic Development Plan (SEDP) in Accra.

The event was attended by a wide range of stakeholders including bilateral agencies, the private sector, foundations, development NGOs and development partners to discuss partnership opportunities for implementing the SEDP.

Managing Director of AngloGold Ashanti Obuasi Mine, Eric Asubonteng, in a video message, said the mining firm is conscious of the state of the well-being of the citizens and as such is determined to deliberately implement measures to secure their livelihoods.

“Our goal is to contribute to building resilient and socioeconomically self-sustaining communities through the implementation of a longer-term plan. But we can only achieve this through a partnership with Government and other stakeholders to chart a path that reflects their collective aspirations and commitment.”

The newly introduced 10-year SEDP takes over from a previous 3-year plan which began in 2019 and ended in 2021.

According to the MD, the 3-year plan had served its purpose, but it was essential to introduce another package that will cover a longer period, hence the 10-year plan.

“As the Social Management Plan drew to a close, we commenced consultations with our stakeholders culminating in the development of a longer-term Socio-Economic Development Plan, keeping in mind the long life of the Obuasi Mine and the need to sustain community support and hence social licence to operate,” he said.

The overall goal of the social management plan was to contribute to diversifying the local economy by designing and implementing innovative intentions in the areas of education and youth development, health, social infrastructure, agriculture and economic development in collaboration with our stakeholders.

The Chief Executive Officer of the Ghana Chamber of Mines, Mr Sulemanu Koney, speaking at the event lauded the AngloGold Ashanti Obuasi Mines for its foresight in coming out with the 10-Year Socio-Economic Development Plan, which was aligned with the business sustainability and performance of the mine.

In November 2014, underground production was suspended at the Obuasi Mine, marking the commencement of a major restructuring programme, which saw a 4-year hiatus in operations at the Obuasi Mine.

During this period, it became patently clear that the high dependence of the Obuasi economy on the operations of the mine was unsustainable. Consequently, upon the commencement of the Obuasi Redevelopment Project in 2018, a Social Management Plan (SMP) was developed to drive the mine’s social investment for the period 2019-2021.

As the SMP drew to a close in 2021, consultations were carried out, culminating in a longer-term Socio-Economic Development Plan (SEDP) keeping in mind the long life of mine, and the need for continuity in sustaining community support/ social license to operate.

The SEDP represents the Social Investment Strategy for the Obuasi Mine for the period 2022-2031.

It is in addition to the mine’s commitment to paying $2 for every ounce of gold mined into the AngloGold Ashanti Obuasi Community Trust Fund.

It seeks to support the Municipal and District Assemblies’ plans to improve the socio-economic well-being of the people. Continuous implementation of the SEDP is aligned with the business sustainability of the Obuasi Mine.