A BLUEPRINT FOR SUSTAINABLE, LOCALISED MINING
A BLUEPRINT FOR SUSTAINABLE, LOCALISED MINING
2 | Africa Outlook Issue 122
ASANTE GOLD MINING
With a bold vision to become West Africa’s preferred Tier 1 mining company and leverage mineral resources as a critical vehicle for delivering meaningful and sustainable value to all stakeholders, Asante Gold is digging its way to continued prosperity Writer: Ed Budds | Project Manager: Josh Whiteside
Africa Outlook Issue 122 | 3
ASANTE GOLD MINING
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sante Gold (Asante) is a gold production, exploration, and development company with a high-quality portfolio of mines and projects in Ghana. The West African country stands approximately 600 kilometres (km) north of the equator on the Gulf of Guinea, bordered by Burkina Faso to the north, Côte d’Ivoire to the west, and Togo to the east. Ghana is the largest and safest gold producer in Africa, ahead of South Africa, and ranks amongst the top producers globally. The mining sector is the backbone of the Ghanaian economy, contributing over one-third of total export revenues and attracting more than half of the country’s foreign direct investment (FDI). Today, Asante is focused on
operating, developing, and managing gold mines and projects, including the Bibiani Gold Mine (Bibiani), Chirano Gold Mine (Chirano), and Kubi development project located on the prolific Bibiani and Ashanti Gold Belts. Moreover, Asante is rapidly positioning itself as a dominant force in West Africa’s mining sector, leveraging a highly localised strategy to transform a portfolio of historical assets into modern engines of wealth along Ghana’s premier gold belts. Headquartered in Vancouver, Canada, but fundamentally rooted within the communities it impacts, the dual-listed enterprise has seamlessly transitioned its operational scope from an exploration junior into an aggressively expanding mid-tier producer with a multi-asset footprint across 80 prospective km.
ASANTE’S SUSTAINABILITY MODEL Asante is committed to conducting its business operations in a socially responsible and environmentally sustainable manner. Recognising sustainability’s importance in the modern business landscape, Asante aims to integrate environmental, social, and governance (ESG) principles into its core business strategies. The company’s sustainability model outlines its approach to sustainability, highlighting key initiatives and practices aimed at fostering long-term value creation whilst minimising negative impacts on the environment and society:
PEOPLE Asante prioritises the well-being and development of its people, including employees, local communities, and stakeholders.
GOVERNANCE The company upholds high standards of corporate governance, transparency, and ethical conduct in all its business practices.
ENVIRONMENT Asante is committed to minimising its environmental footprint and promoting biodiversity conservation in all its operations.
INNOVATION AND TECHNOLOGY Embracing innovation and technology to drive sustainability is key to improving operational efficiency.
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TURNAROUND STRATEGY Asante’s most modern chapter in its story began in earnest in 2021 when it executed a series of bold acquisitions, targeting historic assets on the SefwiBibiani and Ashanti Gold Belts. By breathing new life into these dormant projects, Asante bypassed the lengthy lead times typical of greenfield operations. Today, its solid operational backbone relies on two highly productive, interlocking flagship mines. Bibiani features a robust nineyear life of mine (LOM) and hosts an estimated 2.06 million ounces (oz)
of measured and indicated (M&I) resources alongside 1.53 million oz of proven and probable reserves. Chirano, which adjoins Bibiani, encompasses a multi-deposit openpit and underground mining complex and a seven-year LOM, housing 2.53 million oz of M&I resources and 1.3 million oz of reserves. Meanwhile, beyond its producing engines, Asante is advancing the Kubi Gold Project on the main section of the Ashanti Gold Belt, whilst managing a high-potential greenfield exploration pipeline that includes the Keyhole, Fahiakoba, and Betenase
prospects, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.
OPERATIONAL SCALE AND FINANCIAL VELOCITY The successful ongoing strategic consolidation of these assets has triggered explosive financial and operational growth for Asante. Furthermore, the company’s latest mid-year data reveals an upward curve of scaling at rapid velocity, driven by enhanced throughput and operational efficiencies at both main mine sites.
During the first half of 2026, Asante produced 117,076 gold equivalent oz, representing a sharp 46.1 percent increase year-over-year. This operational surge, coupled with favourable gold pricing, has sent revenues skyrocketing, fuelling overall ambitions across the board and promising no end to the company’s success. Looking ahead, Asante’s management has set an aggressive full-year production guidance of 275,000 to 300,000 oz, further reinforcing that its upward scaling trend is far from over. Africa Outlook Issue 122 | 5
ASANTE GOLD MINING
SAFE AND RESPONSIBLE Safety is one of Asante’s core values, and to strengthen and embed this commitment across its operations, the company has introduced the Asante Safety and Value Awards. These awards celebrate individuals and teams who demonstrate an outstanding commitment to Asante’s core values. By recognising their efforts, the company reinforces its belief that everyone has a role to play in keeping workplaces safe. Across every facet of Asante, safety is part of how people work every day, everywhere. The company remains committed to responsible mining, which means operating profitably whilst upholding clear principles that guide the business. These principles include working safely, practising environmental stewardship, and treating colleagues, communities, and stakeholders with dignity and respect. 6 | Africa Outlook Issue 122
HISTORY OF BIBIANI 1892 – 1913 – Exploration of the shallow oxide mineralisation. 1927 – 1958 – Mining activities continued, developed, and operated by foreign investors until nationalised in 1958. 1958 – 1973 – Underground mining by the State Gold Mining Company. 1973 – 1995 – Ghana Libyan Arab Mining Company and International Gold Resources Corporation carried out tailings reclamation and surface exploration, yielding positive results for open-pit mining around the historic underground Bibiani site. 1995 – 2008 – Ashanti Goldfields Company/AngloGold Ashanti redeveloped the mine as an open-pit operation with a modern processing plant. 2008 – 2013 – Central African Gold /Noble Mineral Resources in operation. 2014 – 2021 – Mine owned and operated by Mensin Gold Bibiani, a subsidiary of Resolute Mining Limited, which conducted significant exploration on the project during this period. 2021 – PRESENT – In August 2021, Asante finalised the purchase of Bibiani. The mine is owned by Asante Gold Bibiani Limited, a wholly owned subsidiary of Asante. Open-pit mining and processing has been ongoing since February 2022.
UNLOCK MORE GOLD WITH OXYGEN RIKAIR ONSITE PSA/VPSA OXYGEN SOLUTIONS FOR GOLD MINES In gold processing, every percentage point of recovery matters. Every hour of downtime has a cost. Every opportunity to improve process efficiency can have a direct impact on your operation’s bottom line. Rikair Company Limited provides engineered onsite PSA/VPSA oxygen generation and precision oxygen injection solutions designed specifically for gold cyanidation and leaching circuits.
TURN OXYGEN INTO A RECOVERY ADVANTAGE Rikair’s onsite oxygen solution provides a reliable, controlled oxygen supply directly at your mine site, helping optimise cyanidation performance and support improved gold recovery.
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• Reduced cyanide consumption • Elimination of hydrogen peroxide • Predictable operating costs • Reliable onsite oxygen availability • 24/7 onsite technical support • Safe, environmentally friendly operation FLEXIBLE OXYGEN SOLUTIONS BUILT AROUND YOUR MINE At Rikair, we understand that every mining operation has different production requirements, investment structures, and operational priorities. That is why we offer flexible options for accessing and managing PSA/VPSA oxygen generation systems.
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FLEXIBLE PAYMENT TERMS Rikair offers flexible payment arrangements, including instalment payment options, subject to agreed commercial terms. Whether you choose to purchase, lease, or outsource the operation and maintenance of your PSA Oxygen Plant, our objective is to provide a solution that aligns with your mine’s requirements. 24 HOURS ON-SITE SUPPORT Mining never stops and neither should the support behind your critical processing systems. Rikair provides 24/7 on-site support, backed by locally based, trained engineers and technicians who understand the demanding realities of mine
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ASANTE GOLD MINING
Asante believes transparent, sustainable practices and good corporate citizenship are central to the long-term success of its business, and it seeks to build enduring relationships with local communities and stakeholders, whilst addressing shared social challenges through meaningful partnerships. Through this approach, Asante aims to create lasting value for all stakeholders.
SUSTAINABLE, LOCALISED MINING Today, what truly distinguishes Asante from its global peers is the company’s 8 | Africa Outlook Issue 122
strict adherence to a localised operating model. Built on a foundation of international benchmarks – including International Finance Corporation (IFC) Performance Standards and International Council on Mining and Metals (ICMM) Mining principles – the company operates with deep domestic roots. Additionally, out of a total workforce of roughly 1,500 people, more than 99 percent are Ghanaian nationals. This resolute focus on local inclusion extends beyond employment to environmental and social stewardship and care for its
local communities. For example, Asante has also committed to a 10-year reforestation initiative across 800 hectares of the Tano-Suraw Forest Reserve, whilst simultaneously funding community infrastructure and educational scholarships through the Chirano Sefwiman Foundation. By combining its financial success directly with the environmental and socioeconomic health of its host nation, Asante is proving the future of mid-tier mining lies in deep, local partnership and that it is bright for all involved.
ASANTE GOLD MINING
A JOURNEY OF TRANSFORMATION: HOW EPIROC AND ASANTE GOLD ARE SHAPING THE FUTURE OF MINING IN WEST AFRICA
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s mining operations extend deeper underground, the industry faces increasing challenges in maintaining productivity, safety, and sustainability. To address these demands, Epiroc Ghana is helping transform underground mining through a combination of electrification, automation, connectivity, and digital technologies. More than an equipment supplier, Epiroc is partnering with forward-looking mining companies to build the smart, safe, and sustainable mines of the future. One of the most significant shifts underway is the industry’s transition toward a zeroemission underground environment. Epiroc has committed to offering a complete range of emission-free solutions, with battery-electric technology playing a central role in reducing diesel emissions, improving air quality, lowering ventilation requirements, and creating healthier working conditions underground. From loaders and haul trucks to drilling equipment, Epiroc’s growing battery-electric portfolio is redefining what sustainable mining looks like. Safety remains another critical driver of innovation. Through advanced automation and remote operation technologies, Epiroc is helping remove personnel from hazardous underground environments and placing them in safer, surface-based control rooms. Autonomous and teleremote machines can continue operating during shift changes and post-blast clearance periods, significantly improving productivity while reducing exposure to underground risks.
solutions. Through the implementation of Epiroc’s digital technologies and connected equipment, the mine has enhanced operational monitoring, asset management, and workforce safety. Among the key achievements delivered in West Africa are the successful commissioning of automated Load-Haul-Dump (LHD) machines, allowing operators to control equipment remotely from the surface. Epiroc has also deployed a 3D situational awareness system within the control room, providing real-time tracking of underground personnel and equipment to strengthen safety management. In addition, an underground navigation system for mobile assets has improved traffic management and operational efficiency, while advanced telemetry solutions continuously monitor machine performance, supporting predictive maintenance and higher equipment availability. These technologies are not only improving productivity; they are fundamentally changing how mines operate by creating connected ecosystems where people, equipment, and information work together seamlessly.
The digital transformation of mining is equally important. Epiroc is integrating intelligent equipment, connectivity platforms, and real-time operating systems that provide mine operators with unprecedented visibility and control over their operations. By transforming data into actionable insights, mining companies can make faster decisions, improve equipment utilization, and optimize overall performance.
As the mining industry continues its digital evolution, Epiroc remains committed to helping customers unlock safer, smarter, and more sustainable operations. Through strategic partnerships such as the one with Asante Gold’s Chirano Mine, Epiroc Ghana is proud to be contributing to the next generation of underground mining and shaping the future of the industry across the region.
A strong example of this transformation can be found at Asante Gold’s Chirano Mine, where Epiroc has partnered with the operation to deploy a range of smart mining
Together, Epiroc and its customers are proving that the future of mining is electric, automated, connected, and safer than ever before.
Knight Piesold Ghana Ltd. provides specialist engineering, environmental and materials testing services to the mining sector within Ghana and neighbouring West African countries.
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Africa Outlook Issue 122 | 9
A BLUEPRINT FOR SUSTAINABLE, LOCALISED MINING
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