Friday, 26th September 2008 (441 views)

PMI Gold has announced that the minister of lands, forestry and mines for Ghana has approved a 20-year extension to two of its mining leases in the African nation.

The projects are located near to regional capital Dunkwa in the south-west of the county.

Permission was granted for the firm to fund and develop a new mine at the Kubi gold project.

Its main lease in Kubi covers an area of around 19km, of which some is covered by a forest reserve.

The company plans to construct an underground operation with access from outside the forest in order to avoid impacting the surrounding environment.

Recent mining in the area by a different company recovered 58,696 ounces of gold from two pits.

Meanwhile, Kwadwo Baah-Wiredu, the country's finance minister, died at the age of 56 after an illness this week.

He was credited with helping the country maintain economic stability, Reuters stated.

 

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