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Two New Projects Extend Profitable Production at Ahafo in Ghana

Last week, Newmont announced that it will build a new underground mine and expand plant capacity by more than 50 percent to extend profitable production at our Ahafo operations in Ghana.

The Subika Underground mine will access higher grade ore beneath Ahafo’s current surface mines to produce 1.8 million ounces of gold. The project scope includes constructing surface and underground infrastructure to support a mine within the central corridor of the Subika ore body. The mine will also create a platform to develop the deposit to the north, south and at depth.

The Ahafo Mill Expansion will increase capacity by adding a crusher, a grinding mill and leach tanks to the existing circuit. The expansion will improve profitability by increasing mill throughput as Ahafo transitions to harder, lower grade ore in its surface mines; bringing lower grade stockpile processing forward; and supporting development of Ahafo’s underground resource.

“We are building on strong performance and solid infrastructure in the next generation of profitable production at Ahafo,” said President and Chief Executive Officer Gary Goldberg. “The Subika Underground mine will also create a platform to support even longer-term growth. Recent exploration results demonstrate considerable upside within the Subika deposit and adjacent Apensu Deeps deposit.”

In consultation with the community, Newmont will uphold its commitment to local employment and procurement for construction and operation of the projects which are expected to create hundreds of new, well-paying jobs. The projects also will generate additional revenues for the local and national governments, as well as the Newmont Ahafo Development Foundation (NADeF).

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