The proposed Ghana Joint Venture (JV) is projected to create
Both mines are located near the town of Tarkwa in
Benefits of the proposed JV include an estimated life of at least 18 years, which could increase through an extension and optimisation plan, to be consideredover the next three years.
This could also enhance envisaged production and cost parameters, the release said.
There is also an estimated average annual production (100 percent basis) of almost 900koz over the first five years and average annual production in excess of 600koz over the estimated life of operation.
The release said, "The Parties"had agreed in principle on the key terms of the proposed JV and indicated that they had begun preliminary, high-level and constructive engagements with senior government officials in
These engagements would continue with the
The Parties have agreed to mutual exclusivity during this engagement, the release added.
"It is intended that the Proposed Joint Venture will be an incorporated joint venture, constituted within
"
"The Parties do not anticipate that any material, additional capital injection will be required by either company to establish the Proposed Joint Venture and is expected to materially improve its capital intensity once operational," it explained.
Again, the release stated, excluding the interest to be held by the GoG,
It continued "the Proposed Joint Venture would create the largest gold mine in
"Operational synergies will be achieved by optimising mining of the combined ore bodies and consolidating the infrastructure of the immediately adjacent mines for the long-term benefit of all shareholders and stakeholders," the statement said.
The Interim CEO
He believed that the ability to optimise mining and the use of shared infrastructure across the combined operation would result in significant flexibility in mine planning, materially enhancing the economics of the mine.
This deal, Preece added, also ensures quality and scale of operation that would be world class.
"That unlocked value will underpin the Proposed Joint Venture's continued contribution to our host communities and
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