Bogoso (W/R), Aug 19, GNA - Mr Anthony Evans Amoah, Western Regional Minister, has launched a Community Development Endowment Fund initiated by the Golden Star Resources Limited (GSR), at Bogoso. Speaking at the ceremony he stressed the government's commitment to protect investment and to help in solving all associated problems in the country.

The Minister urged the company to engage galamsey operators in a dialogue to pave the way for the peaceful underground mine operation of the company at Prestea to offer employment to the youth and for the development of the region.

He appealed to the chiefs and people of the area for their co-operation and tasked the Trustees of the Fund to mange it in a business manner.

The Regional Minister also appealed to them to collaborate and coordinate their activities with the Wassa West District Assembly for the communities to feel the impact of the fund. Mr. Peter Bradford, Chief Executive Officer and President of GSR, said the company had completed projects it promised the communities and explained that the Endowment Fund was to increase its community development funds to one dollar per every ounce of gold produced. He said a total of five hundred thousand ounces would be produced from the Bogoso, Prestea and Wassa mines, which were subsidiaries of GSR in 2007, adding that, with the projection the company would contribute about six hundred thousand dollars to the fund. Nana Kwaw Amoah II, who represented the Paramount Chief of Wassa Fiase Traditional Area, commended GSR for the projects it had undertaken in the area including an oil palm plantation to create employment for the youth after the mine had closed down.

He urged the custodians of the Fund to ensure that it was used for the purposes it was intended for.