A little over a year ago the Ashanti Goldfields Corporation became the first industrial user of electric power from the Volta River project.
A little over a year ago the Ashanti Goldfields Corporation became the first industrial user of electric power from the Volta River project. It also showed a comfortable profit, after tax, of nearly GBP780,000 Sterling -- an increase of over GBP30,000 on the previous year.
Accounts for the Goldfields showed that its costs were falling, and that it was saving on its power bill at the rate of GBP240,000 Sterling a year, thanks to the commissioning of the Volta dam.
Ashanti Goldfields owns the lease of 100 square miles in the districts of Bekwai and Adansi. The mines have been worked for about 70 years, and much of the ore comes from depths of over 4,000 ft. (1,216 metres).
Ashanti is the biggest single industrial enterprise in Ghana and, in addition to goldmining, is responsible for large areas of afforestation.
It is the richest mine of its size in the world -- with ore reserves of over 3,000,000 tons -- averaging about one ounce of gold per ton. Some 44,000 tons of ore is handled each month, producing approximately 38,000 ounces of gold.