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Ghana: Asante Gold's Ghana Mines Deliver Strong Production and Revenue Growth

Tuesday, 18 June 2024 19:16
Ghana: Asante Gold's Ghana Mines Deliver Strong Production and Revenue Growth

(Ecofin Agency) - Canada's Asante Gold, which operates the Bibiani and Chirano gold mines in Ghana, has reported a rise in production and revenues from its two mines. Between February and April 2023, the two mines delivered 51,372 ounces, generating $97.26 million. 

 The Bibiani and Chirano mines delivered 53,379 ounces of gold between February and April 2024, against 51,372 ounces a year earlier. The mines generated more money as well, 17% more year-on-year. Asante Gold’s boss disclosed the figures in a statement dated June 17. 

Production at the Bibiani mine fell slightly from 20,001 ounces in the first quarter of fiscal 2024 to 19,183 ounces in the corresponding period of fiscal 2025. However, this decline was offset by Chirano, which produced 34,196 ounces this year, compared to 31,371 ounces last year.

"Subject to meeting our financing targets, we are on track to implement our plan to unlock untapped potential across the Bibiani-Chirano district, with annual production expected to reach nearly 450,000 ounces of gold in fiscal 2026 and more than 500,000 ounces of gold by fiscal 2029," said Dave Anthony, CEO of Asante.

Asante Gold targets production of 110-120,000 ounces for its 2025 financial year at Bibiani, and 165,000 ounces at Chirano for the same period.



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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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