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Projects Overview

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Ghana - a stable, established, democratic system

  • Ghana is Africa's second-largest gold producing country after South Africa, and ranked as the 10th largest gold producer in the world -- producing 85 metric tons of gold in 2015 (as reported by the USGS)
  • 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 the Iduapriem mine
    • Gold Fields operates the Tarkwa and Damang mines
    • Golden Star Resources operates the Prestea and Wassa mines
    • Newmont operates the Ahafo and Akyem mines
    • Kinross operates the Chirano mine
    • Asanko Gold declared commercial production on April 1, 2016 at the Asanko Gold mine

Exploration Team in Ghana

Led by Warren Bates, Senior Vice President Exploration of Pelangio, our exploration team in Ghana has significant experience and depth. Sam Torkornoo, B.Sc., MBA, our Vice President Africa, has been working with us since 2006. Our geologists are supported by a qualified team of geotechnicians.

Sam Torkornoo,
Vice President Africa