Asante gains more time to arrange US$100 million for Ghana mines

[SMM Gold Flash] A draft mining bill reviewed by Reuters on 30 September would let Ghana’s mines minister require companies to issue the state a free special share with consent rights over major transactions. It would retain the existing 10% free-carried state interest and limit mining leases to 15 years or the projected mine life, whichever is shorter. The draft would also allow future rules requiring local processing and restricting exports of unprocessed concentrates. None of these proposals has been enacted; Reuters did not establish when the draft was prepared. For Ghana’s gold miners, the proposed rights and shorter leases could affect financing, valuations and renewal decisions. Under the draft, existing rights holders seeking renewal would receive priority consideration for equivalent licences. Mining companies expect further consultation before parliamentary debate, Reuters reported. The final wording and timing remain uncertain.

[SMM Gold Flash] Ariana Resources said on 30 September that three of 12 planned water boreholes had been completed north of its Dokwe gold project in Zimbabwe. The third hole, about 10 km from the deposit, encountered what the company described as strong flows of good-quality water; it did not disclose a sustained pumping yield. Ariana also reported completion of six geotechnical holes totalling 1,251 metres at Dokwe Central. Laboratory testing and an independent mineral resource estimate remain in progress. A dependable water source and geotechnical data are needed to design the proposed processing plant and open pit. The results advance the feasibility work but do not establish mine water supply capacity or a final reserve. Ariana plans further sterilisation drilling and surveys; those programmes had not begun in this announcement, and Dokwe is not producing gold.

[SMM Gold Flash] Burkina Faso inaugurated RAFFINOR-BF in Ouagadougou on 28 September, the government and mines ministry said. The ministry reported that officials observed the refining of initial gold bars during a tour of the plant. It puts the first phase’s theoretical refining capacity at 164 tonnes a year; an additional phase would raise that to 515 tonnes a year. The government says the facility cost about CFA11 billion and was financed mainly through the state precious-metals company SONASP and private partners. The opening marks a step in Burkina Faso’s effort to refine industrial and artisanal gold domestically and retain more processing value. Capacity is a design figure, however: neither the inauguration nor the observed first bars establishes annual throughput, sustained operation or sufficient supply. Feedstock collection, refinery utilisation and the proposed expansion remain the figures to watch.