Gold Mining

We’ve categorized our Company’s gold mining operations, as is the case in Ghana, in two sectors; the large scale and the small-scale sectors. The large scale sectors are involved in the hard rock mining with modernized sophisticated implements and machineries, whereas the small scale sector mostly comprises a maximum of 25 acres land, forming one mining concession and are mostly involved in alluvial/streams/rivers banks mining. The gold mined comes in the form of gold dust which is subsequently smelted into dore bars/ingot with a fine percent purity of 92% minimum.

Ghana presents a number of opportunities in the mining sector, especially in the gold production industry. With a production of 80.50 metric tonnes of gold in 2008, Ghana’s production stayed stable over the course of 2014, totalling 90 metric tonnes ranking Ghana the second largest gold producer in Africa, after South Africa and tenth in the world after Uzbekistan on the eight position and Mexico the ninth. In recent times, the Ghana Minerals Commission; the authority with the responsibility to regulate Minerals and Mining in Ghana, as per the Ghana Minerals and Mining Act 2006 (Act 703), reports on gold production in Ghana and its exports is even more exciting.

With regards to the likely environmental degradation characterized with mining operations, we adhere to the dictates of the Ghana Environmental Protection Agency (EPA) and the regulations of the Ghana Minerals Commission by resorting to the usage of modern and environmentally friendly methods, to prospect or explore and exploit gold, ensuring responsible mining thus, avoiding and to the barest minimum reducing any environmental adverse effect. 

We have a couple of small and large scale gold mines aside the ones we’re in partnerships with other parties in operation, mainly around the Ghana western minerals belt that stretches from Gold Tarkwa, through to Bogoso, Prestea, Enchi, Wassa Akropong, Ayanfuri, Diaso, Asaman, Dunkwa-on-Offin, Kyekyewere, Obuasi.

We go a step further by falling on our Mining Fund to access funding to pre-finance external licensed gold mining companies, a measure that gives them capacity to adequately resort to the usage of modern, technologically and environmentally friendly gold extraction and recovery methods which is quite costly, in return for gold dore bars supplies to us at impressively massive discounts to make up for our much needed investments into the gold mines. These conclusively, together with our gold spot purchases on the open market tendencies accounts for our gold sourcing measures, that makes it possible for Volcano Gold Vault to adequately and timely successfully supply locally to refineries and export huge quantities to international buyers.