Audio By Carbonatix
Chinese mining firm, Chifeng Jilong Gold Mining Limited, has taken over the operations of Wassa Mine from Golden Star Resources.
The new operators have agreed to respect and honour all the existing contracts that were signed by Golden Star Resources.
They include employment contracts and collective bargaining agreements which have been entered into with employees of the mine.
The Wassa Mine, which covers a total surface of approximately 52.89km2, has been in operation for several years. It originally operated as a small-scale mining site until Satellite Goldfields Limited acquired it in 1993.
As of the end of 2020, Golden Star Resources had produced about 2.4 million ounces of gold, since its acquisition of the mine in 2002.
The transition from open-pit mining to underground mining in 2015 marked a major milestone in the life of the mine, with total production increasing from 104,000 ounces in 2016 to 165,000 ounces in 2020.
Speaking at a ceremony to mark the official take-over of the mine, Lands Minister, Samuel Abu Jinapor, assured workers and residents that government will work with Chifeng Jilong Gold Mining Limited to ensure the rights of all employees are protected.
According to him, efforts are being made to list the mining firm on the Ghana Stock Exchange in order to effectively utilise the mineral resources for the benefit of Ghanaians.
A former Chief Executive Officer (CEO) of Golden Star Resources (GSR), Andrew Wray, explained that the sale of the mine to the new investor would ensure that the mine is developed to realise its full potential for the benefit to all stakeholders.
On his part, the Managing Director for GSR-Wassa, Shadrach Adjetey Sowah, was hopeful the Chinese mining firm will build on the foundations already laid.
At the same event, the Executive President of Chifeng group and new chairman of GSR, Chen Zhiyong, expressed excitement about the mine’s prospects.
“Chifeng has well positioned record as a responsible operator and is well positioned to turn the Wassa Mine into amyloid class mine,” he said.
Latest Stories
-
Church of Pentecost supports over 2,000 BECE candidates in Obuasi with career guidance seminar
1 hour -
Brandon Asante and Coventry all but promoted to Premier League despite Sheffield Wednesday draw
1 hour -
GPL 2025/26: Late Kwartemaa strike downs Hearts in Tema
2 hours -
Ghana Faces Sierra Leone Moment as Prosecutorial Powers come under strain
2 hours -
Don’t consume fish or seafood from Tema Shipyard until further notice – FDA warns
2 hours -
Why volunteering might be Africa’s most underrated career accelerator
2 hours -
ActionAid Ghana raises concern over gender gaps in Feed Ghana Programme
2 hours -
Windstorm wreaks havoc in Gushegu, displacing nearly 2,000 residents and damaging schools
2 hours -
Friends of Bridget Bonnie Marks her 35th birthday with donation to Kasseh Model Health Centre
3 hours -
From Ekumfi Kokodo to the Pulpit Stage: Essi Donkor’s gospel journey takes shape
3 hours -
Landfilling waste management creates no value, it’s an economic waste
3 hours -
Photos: Speaker Bagbin Commissions MPs constituency office under parliamentary decentralisation programme
3 hours -
Black Stars technical advisor Winfried Schäfer sacked as GFA shakes up backroom staff
4 hours -
Wenchi water project almost complete, critical to gov’t agenda – GWL MD
4 hours -
Anti-LGBTQ+ bill not part of government’s legislative agenda – Inusah Fuseini
4 hours