A switch to hydroelectric power from diesel is expected to improve the bottom line for junior gold producer Akrokeri-Ashanti Gold Mines (AAGM-C).
The junior company operates a small gold mine in Ghana that is expected to produce 25,000 oz. gold this year. A financing was recently approved that will allow for the building of a 17.5-km power line from the national grid to the mine site.
The company plans to contribute $250,000 of the total $900,000 contract, with the balance provided by a grant from the Canadian International Development Agency. The power line is expected to result in savings of US$50,000 per month.
The power line, which should be completed in September, will also benefit two neighboring villages and four smaller communities by providing them with electricity.
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