AIM-listed Goldplat has submitted a proposal to invest further into local beneficiation of by-products in Ghana through its wholly-owned subsidiary Gold Recovery Ghana (GRG).
GRG has made several investments in plants to upgrade by-products from the gold mining industry into bullion and concentrates for further processing in the last 16 years.
GRG intends to invest a further GBP900,000 to upgrade its facilities in Tema.
High shipping and refining costs as well as the Ghanaian government's increased emphasis on local beneficiation have driven the decision to invest, according to Goldplat.
“Through recent engagement with the Ghana authorities, it has become clear that their preference is for us to refine as much material to bullion as possible in Country,” it said.
“These upgrades should increase our ability to upgrade and refine the by-products at our facilities in Ghana, which should reduce shipping and external refining charges and reduce working capital requirements in the future, thereby reducing interest costs.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
