1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 ReadFILE PHOTO: At the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada, visitors interact with a representative at the Newmont Corp booth. 1st of March, 2020 Chris Helgren/Reuters (Source: Reuters) Newmont Corp, a gold miner, announced on Thursday that its board of directors has approved full finance to move the Ahafo North Project in Ghana into the execution phase. The project will contribute more than three million ounces of gold production over a 13-year mine life and is located 30 kilometers north of the company’s current Ahafo South operations, according to the business. Construction is projected to be completed in the second half of 2023, with capital expenses estimated to be between $750 million and $850 million by the leading gold producer. For the first five years, Newmont expects production to range between 275,000 to 325,000 gold ounces, with all-in sustaining costs of $600 to $700 per ounce. Ahafo, which has two principal ore zones, Ahafo South and Ahafo North, commenced commercial production in 2006. Sahil Shaw contributed reporting from Bengaluru, and Sriraj Kalluvila edited the piece./n
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