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President Akufo-Addo predicts surge in Ghana’s gold production with coming of Cardinal Namdini Mine, others

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President Nana Akufo-Addo has welcomed the coming in of Cardinal Namdini Mining Limited, which is set to pour its first gold in the last quarter of 2024 in the Upper East Region as a significant milestone that will boost Ghana’s gold production. He anticipates that the addition of this new mine, along with others, will elevate the country’s annual gold output to an estimated 4.5 million ounces.

President Akufo-Addo, who was speaking during the State of the Nation Address in parliament on Tuesday, underscored the importance of Cardinal Namdini Mining Limited and other emerging mines in augmenting Ghana’s position as a leading gold producer on the global stage.

“Currently, three (3) large-scale mines are under construction in Ahafo, Upper East and Upper West Regions, with Cardinal Namdini set to pour its first gold in the Upper East Region in the last quarter of this year. With these new mines, our gold production is expected to increase to some four point five million ounces (4.5 million oz) annually”, the president stated.

He disclosed that Ghana had regained her position as the leading gold producer in Africa, with an unprecedented 4 million oz, according to preliminary reports, having overtaken South Africa.

“This is as a result of the progressive policies we have been implementing, which have led to the revival of dormant mines like the Obuasi and Bibiani Mines, and the expansion of existing ones. The reduction in withholding tax on unprocessed gold by small-scale miners, from three percent (3%) to one and a half percent (1.5%), has resulted in some nine hundred percent (900%) increment in gold export from the small-scale sector, over the last two (2) years”, he added.

Source: A1Radioonline.com|101.1Mhz|Joshua Asaah|Ghana

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