Abosso to get factory to process tailings waste to produce gold doré

President Akufo-Addo has cut the sod for the construction of the Abosso Tailings Project, a 1-District-1-Factory initiative, which is being established to treat and process tailings waste to produce gold doré.

Yellowtail Limited, the enterprise promoting this initiative, will construct a state-of-the-art gold processing facility, within six months, with a total capital outlay of some twelve million dollars ($12 million), to ensure steady production of gold doré.

“The benefits of this project are both environmental and economic. The project will introduce technology and safe working practices to small to medium scale underground sites, and rehabilitate contaminated sites for agricultural purposes and developments”, the President added.

On an annual basis, for five (5) years, the Project will contribute approximately US$1.35 million as royalties, and US$54,000 as small-scale mining sustainable levy to Government. Cumulatively, a total amount, in excess of eight million, US$8.7 million, will be contributed as corporate tax (CIT) over the five year period.

“I am counting on you, Nananom, to contribute to the success of these projects for the development and transformation of Abosso. Government’s determination to bring progress and prosperity to every part of our country is very much on course,” President Akufo-Addo added.

Related posts

GLOA agrees to be regulated by NLA


Over 600 Ghanaian seafarers stranded abroad


Don’t patronise *959# Mobile Game – NLA cautions


Over 9,000 Gold Coast customers paid – Nduom


NLA cautions public against lotto fraudsters


Ivorian delegation understudy NLA ongoing reforms


Banks to collect internally generated funds for gov’t


Your funds are safe – Sammi Awuku tells traders


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More