Asante Gold to up production at Bibiani with new plant

Asante Gold (CSE: ASE; US-OTC: ASGOF) is getting closer to increasing gold production at its Bibiani mine in Ghana, as long-lead items for the sulphide recovery plant are anticipated to arrive by mid-August, the miner said.

Installation of the recovery plant at Bibiani, which Asante acquired in 2021 from Resolute Mining (LSE: RSG; ASX: RSG), is elected to boost gold recovery and significantly reduce the all-in sustaining cost (AISC) per ounce produced. The Canadian miner said that gold recovery from sulphide ore is expected to jump from the current 70% to nearly 92%, thanks to the items in transit to the mine.

The sulphide recovery facility, with civil works 50% completed, is crucial to Asante’s ambitious plan to increase gold production at Bibiani to over 250,000 oz. per year. The company is aiming for a cumulative output of 1.2 million oz. of gold over the next five years, Asante said.

When the sulphide recovery plant is completed, the company expects to be producing 20,000 oz. of gold per month at Bibiani, in line with its long-term plan for the mine.

Separately, Asante also said the Bibiani-Goaso highway had been rerouted following the recent completion of two detour roads. This would allow for the further development of the open pit and the underground portion of the Bibiani mine.

The Vancouver-based company has a high-quality portfolio of projects and mines in Ghana, where it operates Bibiani and Chirano mines and continues with detailed technical studies at its Kubi gold project.

Ghana reclaimed in 2022 its status as Africa’s top gold miner, thanks to 32% surge in production expected. Gold output rose to 3.7 million oz. that year from 2.8 million oz. the previous year, when South Africa took the crown as the continent’s top bullion producer.