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Golden Star starts commercial production at Ghanaian gold mine

Published 02 February 2018

Canadian gold mining company Golden Star Resources said that its Prestea Underground gold mine in Ghana has started commercial production.

The project construction of Prestea Underground, including the installation of all ancillary infrastructure, is complete and operational and gold production is anticipated to continue to ramp up during 2018.

The West Reef ore body of Prestea Underground has Proven and Probable Mineral Reserves of 1.09 million tonnes of gold at 13.93 grams per tonne of gold.1  Exploration drilling is underway at the mine with the objective of increasing the annual production rate and extending the mine life.

Full year 2018 production guidance for the Prestea complex (including Prestea Underground and the Prestea Open Pits) is 93,000-113,000 ounces of gold at a cash operating cost per ounce2 of $740-880.

Golden Star president and CEO Sam Coetzer said: "Achieving commercial production at Prestea Underground is an important milestone in Golden Star's transformation into a high grade, margin-focused gold producer. 

“It is also a significant historical moment for the Prestea community as it has been over 15 years since the mine was previously in commercial production.  I would like to thank our host communities for their continued support during the construction and commissioning periods."



Source: Company Press Release