Abosso Gold Fields to spend $19.77mon land reclamation

Abosso Gold Fields Ltd(AGL) is  to spend about US$19.77 million  to reclaim  1,472 hectares of  degraded land.

It represents  18 percent  of  8, 111 hectares of its concession at Damang Mine, in the Prestea-Huni Valley municipality of the Western Region.

 In fulfillment of this, AGLhas posted a security bond of US$19.8 million, comprising US$7.6 million cash and US$12.2 million bank guarantee with First National (FN) Bank.

This means that, in the unlikely event that the mine fails to rehabilitate the disturbed lands, the state can fall on the US$19.8m bond to carry out the rehabilitation of the land.

Currently, 506 hectares representing 34 percent of the disturbed lands, has so far been reclaimed even though mining is still ongoing. 

Acting General Manager of Damang Mine, Charles Kofi Nti revealed these at the 2022open house forum on rehabilitation planning for mine closure held at the mine site on Thursday.

The Damang Mine’s rehabilitation activities  covered  the tailings storage facilities, waste rock dumps and all other disturbed areas, while the rubber estate establishment covers these areas as well and other abandoned sites disturbed by illegal miners.

Participants  from Damang, Huni Valley, Abosso, Bompieso,Kyekyewere, Amoanda, Koduakrom, Subri including officials from  Environmental Protection Agency(EPA) and Mineral Commission,  went on field trip to tailing dams and rehabilitated  sites  where rubber, coconut, cashew, cabbage  and oil  palm had been cultivated.

Mr Nti assured the mine continued to set aside US$200,000 monthly to improve the cash component of the bond and reduce the bank guarantee every year. 

He explained that “Our company’s policy on reclamation is concurrent rehabilitation, that is, we rehabilitate our areas alongside ongoing mining operations and not to wait until mining activities cease completely.

 “We remain cognisant of the life-of-mine plan, the reclamation security agreement (RSA)/criteria and the socio-economic activities the land can be put to presently and after mining.” 

MrNtirecalled that, the COVID-19 pandemic adversely affected the 2018 forum but, was happy that the event held every two years had been revived, saying Gold Fields’ mine closure planning processes involved extensive stakeholder consultations.

He said, the plans guaranteed a solid foundation for the global Environmental, Social and Governance (ESG) agenda while returning strong economic value and sustainable livelihood to the local communities.


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