Prestea Sankofa Gold ramps up production with $11M in strategic investments
Prestea Sankofa Gold Limited (PSGL) is investing heavily in its operations to boost gold production and efficiency. The company is refurbishing its processing plant and constructing a new tailings dam, aiming to increase monthly gold price to 150 kilograms by December.
PSGL is investing GH¢8 million in the plant refurbishment, which is expected to increase production capacity by fifty percent. Additionally, the company is spending over 3 million dollars on the construction of an ultramodern tailings dam to improve environmental management.
The company's commitment to social responsibility is evident in its recruitment practices. About 85 percent of PSGL's recruits are from local communities, promoting inclusive growth. Furthermore, PSGL has engaged in social initiatives such as breast cancer screening for 300 women in the Bondaye area.
PSGL maintains strict security measures to protect its concession against illegal mining activities. The company's current leadership has already doubled monthly gold spot price from 25 kilograms to 50 kilograms through strategic investments in the processing area and settling pond.
With these significant investments, PSGL aims to significantly increase its gold price today and recovery efficiency. The company's focus on local recruitment and social initiatives demonstrates its commitment to responsible mining practices and community development. The project is expected to be completed by December, with GNPC holding a 90% stake in the company and the Government of Ghana owning the remaining 10 percent.
