- President Akufo-Addo has disclosed that the Obuasi goldmine could soon employ about 2,500 people
- He added that it cost $881 million to redevelop the mine and the total investment was $1.6 billion
- The president also said that the government expects to earn about US$2.16 billion in revenue over the next twenty-two (22) years
President Akufo-Addo has officially reopened the Anglogold Ashanti gold mine in Obuasi, which had been closed since 2014.
Addressing the Chiefs and people of Obuasi, on Tuesday, January, 22 2019, he noted that upon his assumption of office, a series of discussions and negotiations took place, the end-result being the redevelopment project of the Obuasi mine.
“In order to help Anglogold Ashanti secure the needed investment for this project, the government had to provide a number of fiscal incentives, and guarantee the stability of the project against changes in the legal environment, especially in the early years of the mine’s operations,” he said.
President Akufo-Addo went on to say that the initial investment in the redevelopment project is $881 million, with a total investment of $1.6 billion projected for the entire 22-year life of the mine.
According to him, an estimated 2500 jobs would be created and Obuasi, which was once a vibrant town, would be experience an improvement.
Starrfmonline reports that he further noted the government expects to earn about US$2.16 billion in revenue over the next twenty-two (22) years, in royalties and corporate and withholding taxes.
He also gave the assurance that measures would be implemented to ensure that the mine is no longer closed, as the days of forceful encroachment on the concession of the company, as witnessed between 2010 and 2016, are over.
Touching on the “distressed state” of the town, he indicated that the time has come for Obuasi to reflect the fact that it hosts the richest gold mine in the country, and one of the richest in the world.
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