Overview

Golkor, Inc. and AMBEX Ghana Limited have partnered to develop the gold mining project in Obuasi, Ghana, strategically located within a highly productive gold region. The project lies just 3 kilometers on strike from the world-renowned Obuasi Gold Mine, operated by AngloGold Ashanti, a multi-billion-dollar publicly traded company. The Obuasi mine has produced over 40 million ounces of gold to date and continues to recover more than 27 million ounces of reserves, with ongoing drilling to further expand its significant gold resources.

Golkor’s mining licenses encompass 4 kilometers within the same gold trend as the Obuasi mine, underscoring the project’s potential for significant gold discovery and extraction. The exploration license covers Area 1 (16.2 km², 29 small claim licenses) and Area 2 (57.2 km², 110 small claim licenses), restricted to small-scale mining and managed by the Landowners Association. Each mining license is approved for a maximum production capacity of 1,000 tons per day.

The project’s Phase 1 targets processing 500 tons of raw ore daily, with plans to scale to 1,000 tons. AMBEX also plans to implement an ore purchasing program to collaborate with local artisanal miners, consolidating production and eliminating harmful mercury use. A centralized CIP (Carbon-in-Pulp) processing plant will integrate 159 small-scale mining operations, enhancing efficiency and environmental sustainability.

Golkor and AMBEX operate independently while fostering local partnerships and upholding regulatory compliance. By leveraging cutting-edge technology, strategic positioning within a proven gold trend, and strong community engagement, the venture aims to deliver sustainable and responsible gold extraction, capitalizing on the immense potential of this gold-rich region.

Major Operating Gold Mines in Ghana, West Africa

Gold Mining in Ghana, West Africa

Ghana’s mining sector pre-dates the colonial era and is famous for being one of the most prolific gold mining regions in the world
Prior to 1983, most Ghanaian mining production was state owned, but since the Economic Recovery Program, Ghana has attracted foreign investments and pushed towards privatization and state divestiture
The sector is now largely foreign owned, but the Government of Ghana still holds a minority free carried interest in most of the main active large-scale mines. The small-scale mining industry is reserved for Ghanaians
The Mining industry of Ghana accounts for 5% of the country’s GDP and minerals make up 37% of total exports, of which gold contributes over 90% of the total mineral exports
Ghana is Africa’s number one exporter of Gold overtaking South Africa in 2019 with 4.8 million ounces of output
According to GlobalData, Ghana is the world’s eleventh-largest producer of gold in 2022, with output up by 9% on 2021. Over the five years to 2021, production from Ghana decreased by a CAGR of 9.66% and is expected to rise by a CAGR of 1% between 2022 and 2026
There are more than 20 world class mining companies operating in Ghana from The United States, Canada, and Australia
Leading producers of gold in Ghana are Gold Fields, Newmont, AngloGold Ashanti and Kinross Gold