• Short Summary

    The Chairman of the State Gold Mining Corporation, Mr. E.K. Dadson, announced today that the?

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    The Chairman of the State Gold Mining Corporation, Mr. E.K. Dadson, announced today that the ??? gold-mine is to close down and that its equipment and employees will be transferred to other goldfields. He said intensive exploration carried out by the State Gold Mining Corporation has revealed that all the known are deposits have been virtually mined out and that there are no new ones. He said old ore deposits have been re-treated and tested and that there are none left for development.

    Addressing a news conference in Accra, Mr. Dadson said the State Gold Mining Corporation plan to work on the old Bibiani ??? which was abandoned during the war to find out if it has ore deposits. With Mr. Dadson at the conference were Mr. R. Wilson, Consulting Manager and Acting Managing Director, Mr. T. Ennison, General Secretary and Mr. J.E. Amoah, Accra representative, all of the State Gold Mining Corporation. Mr Dadson said a planned three-year re-capitalisation and development programme by the State Gold Mining Corporation with a government grant of four point five million new cedis will enable the Tarkwa Goldfields to increase production to about 100 thousand tons every month. The present monthly tonnage is between thirty thousand and forty thousand. Mr. Dadson said because of government assistance and the devaluation of the cedi, the Prestea and Konongo goldfields have been making profits. The Prestea goldfields have been making a monthly profit of fifty thousand new cedis and the Konongo goldfields twenty thousand. He said the Dunkwa goldfields have been making profit for a long time now. The Chairman said his corporation earns five million new cedis foreign exchange annually from the sale of gold. He said all the mines acquired by the government are working low-grade ore, and that viability can be achieved only increased by production.

    The Government granted the corporation five million new cedis for development between 1961 and the time of the coup last year.

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