The number of mining sector players are expected to go up going forward as Australian mining giant, Cardinal Gold Resources will soon start producing gold in Namdini in the Upper East region early next year.
That is expected to increase the nation’s mineral revenue as well as taxes from the sector.
Cardinal Gold Resources is currently in the construction stage, putting its plant in shape before beginning full scale operations.
Former Chief Executive of the Minerals Commission, Tony Aubyn told Joy Business Cardinal Gold Resources will boost the economy of the Upper East region.
”The good thing is that Cardinal Gold resources is in the Upper East Region and is also actively seriously constructing and we are praying very hard that they come on stream soon. That will be very very good”.
“Cardinal as a company, it is not the size of Goldfields or Newmont or something like that but it is the size that is going to surprise all of us. It will be in the size of the Asanko Gold, the Perseus Mining Limited and others. But they are the ones who sit on our well-developed resource and that is the most ready for production”, he said.
“My excitement is from the fact that this is going to be in the other region of Ghana. It is not going to be only in the middle and southern sections of the country, and I think I can envisage how it will boost the economy of the Upper East”, he added.
About Cardinal Gold Resources
Cardinal Resources Limited is a West African gold‐focused exploration and development Company that holds interests in tenements within Ghana.
The company is focused on the development of the Namdini Project with a proved and probable ore reserve of 5.1 Moz and is now advancing the feasibility study.
Exploration programmes are also continuing at the Company’s Bolgatanga and Subranum (Southern projects.
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