Mining Intelligence and News
Ghana

Homase Mine

Click for more information

Categories

Summary

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
Mine Life... Lock
SnapshotThe Homase Mine was brought into production in 2002/03. The mine was abandoned as the gold price fell to USD275/oz. GoldStone Resources invested in the property in 2010.

Mining started at the mine in 2021, and commercial production commenced in 2022.

Production at Homase improved significantly in the second half of 2024 and this upward trend has continued into 2025.

As at June 2025, Homase maintaining the average 48,000 tonnes of agglomerated stacked ore per month, and feed grade improving with the expansion of Pit 1.

Preparation work commenced for the pit definition drilling of Pits 5 and 6, along the Homase Mine.

To further support the expansion of both mining and processing operations throughout 2025, operations continue to advance on the second lift of pads 3 and 4 and the extension to Cell 5 is nearing completion, with compacting completing ready for the geomembrane to be laid. The civil engineering work continues for the construction of Cells 6 and 7.

Owners

SourceSource
CompanyInterestOwnership
Government of Ghana 10 % Indirect
GoldStone Resources Ltd. 90 % Indirect
GoldStone Resources Limited holds 90% of the Homase mine through its wholly-owned subsidiary, GoldStone Akrokeri Limited, with the remaining 10% of mine owned by the Government of Ghana.

Deposit type

  • Sedimentary - Volcanogenic
  • Vein / narrow vein
  • Mesothermal

Summary:

The property is underlain by the Ashanti gold belt, one of the world’s most significant Proterozoic gold belts discovered to date. The belt is the most prominent of the five Birimian Supergroup gold belts found in Ghana and is predominantly comprised of sedimentary and mafic volcanic rocks. The Brimian terranes in the southern part of the West African craton are several different volcano-sedimentary formations including metamorphosed volcanic, sedimentary and plutonic rocks and low-grade metavolcanics and metasediments. Two types of granite are present, one is more resistant to weathering than the other, with the less-resistant granite containing gold mineralization.

Mineralized shears are found close to the contact with harder metamorphosed and metasomatically altered geology forming the Upper Birimian volcanics. Two main ore types are present at Akrokeri-Homase (AKHM) hosted within quartz veins and sulphide ores. Subsurface investigation within the mineralized trend undertaken by Ashanti Goldfields revealed a wide zone of shear about 800m long, 14m wide between 255m and 70mRL elevation. Shear mineralized zone metasediments dip sub-vertical or steeply to the NW and strike NNE.

Comparable features of Birimian mesothermal gold mineralization between Obuasi and AKHM include quartz veins and mineralization in graphitic shear zones, along with visible gold occurring in fractures within a quartz veins. Most of the gold is contained between these graphite-rich shears and thin quartz-chlorite units within sheared metasediments.

Vertical Distribution
Oxide material to 40 metres vertical; underlying c.5 metres intermediate mixed material; deeper unoxidized material commonly to at least 200 metres.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Heavy Mobile Equipment

Lock

- subscription is required.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

Lock

- subscription is required.

Commodity Production

Completion of first gold pour at Homase Mine in November 2021.
CommodityProductUnits2024202320222021
Gold Payable metal oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Silver Payable metal oz  ....  Subscribe  ....  Subscribe

Operational metrics

Metrics2023
Stripping ratio  ....  Subscribe

Production Costs

Commodity production costs have not been reported.

Mine Financials

Units2024202320222021
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Gross profit M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
Pre-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
Operating Cash Flow M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 2, 2025
....................... Subscription required ....................... Subscription required Subscription required Jun 2, 2025
....................... Subscription required ....................... Subscription required Subscription required Jun 2, 2025

Workforce

Aerial view:

Lock

- subscription is required.