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GOLD MINING NEWS Tarkwa Mine Expanding

GHANA The Tarkwa gold mine, in the southwest part of the country, is going to expand production at a cost of US$1...


GHANA The Tarkwa gold mine, in the southwest part of the country, is going to expand production at a cost of US$159 million. When the expansion is complete, the mine output will go up to 700,000 oz/year from 525,000 oz.

The Tarkwa mine is owned 71.1% by GOLD FIELDS of Johannesburg (www.goldfields.com), 18.9% by IAMGOLD of Toronto (www.iamgold.com), and 10% by the Government of Ghana.

The Tarkwa expansion is based on recommendations outlined in a 2002 feasibility study. A 4.2-million-ton/year mill and CIL plant will be built at a cost of US$85 million. The mill will be commissioned at the end of 2004. Another US$74 million is earmarked for a new mining fleet and support equipment as part of converting the operation from contractor- to owner-operated.


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