Gold Fields Ghana (GFC) is investing $160million to expand its operations and takeover direct mining activities at its Tarkwa Mine from next month. Direct mining activities at the mien had been operated by the African Mining Services (AMS). An amount of $85milion of the amount will be used to build a processing mill, while $71million had been used to buy trucks, excavators, bulldozers and other mining equipment.

The managing director of GFG, Mr. Brendan Walker, announced this at the inauguration of six maxi dumper trucks by the deputy minister of mines, Dr. Abdel Haroun Majeed, at the Tarkwa Mine in the Western Region. He said the trucks formed part of the consignment of 24 dumper trucks and other mining equipment bought by the company to augment its present fleet. He said the take over of direct mining at the Tarkwa Mine would expand the mine?s lifespan to 18 more years. According to him, the take over would also increase the company?s ore body and also employ former workers of AMS.

He said the company had invested $500 million in the economy, and noted that gold exports within three years from the company were $770miilion. He said 20 contractors including seven international ones were involved in the expansion project which could be commission in December this year and added that 825 Ghanaians were also part of the projects.

Dr. Majeed said it was highly appreciated that GFG was building a processing plant that would expand its gold recovery from 8.4 per cent to 96.3 per cent. He assured foreign investors that the country was a safe place to invest. He suggested research into making activated carbon components from coconut husks for use in the mines.