Ghana - a stable, established, democratic system
- Ghana is Africa's second-largest gold producing country after South Africa.
- Close to 60 million ounces of gold have been mined in Ghana over the last century.
- Gold reserves and resources are estimated at well over 100 million ounces.
- Mining industry contributes approximately 40% of Ghana's gross export earnings.
- Government entitled to a free carried equity interest of 10% in mineral ventures with the option of purchasing an additional 20% at a fair market price.
- Government retains a 5% net smelter royalty on production.
- Some of the world's most senior gold producers have made large investments in Ghana:
- AngloGold Ashanti operates two producing mines: Obuasi and Iduapriem
- Gold Fields operates the Tarkwa and Damang mines
- Golden Star Resources operates the Bogoso/Prestea and Wassa mines
- Newmont started operations at the Ahafo mine in 2006 and is developing the Akyem project
- Kinross recently entered the country following its $7.1 billion acquisition of Red Back Mining, which developed the Chirano mine
Exploration Team in Ghana
Led by Warren Bates, SVP Exploration of Pelangio, our exploration team in Ghana has significant experience and depth. Sam Torkornoo, B.Sc., MBA, our Exploration Manager, has been working with us since 2006.
Edmund Agyei Efa,
Our geologists are supported by a qualified team of geotechnicians.
Chris Pegg was a key player in Pelangio's initial exploration of the Obuasi Property, from its acquisition in 2006 until January 2010 when, tragically, he passed away in his sleep at the far too young age of 54. Chris had over 30 years of international experience specializing in Pre-Cambrian gold deposits and had been working in Africa since 1992. He spent 17 years of his career with Lac Minerals and was awarded an NSR royalty in the Williams gold mine for his work leading to its discovery.
His love of geology was evident to all who met him, and he held a special place in his heart for Ghana. He will be missed by his family and his friends in Canada, Ghana and everywhere else there are interesting rocks to be found.
|The Canadian Education Initiative in Ghana, Inc. (CEIG) is building a school in Dompa, near Lake Bosumtwi, with a classroom to be dedicated to Chris' memory. Click the logo to follow the excellent work CEIG is doing in the Lake Bosumtwi area: