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Ghana

Tarkwa Mine

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Overview

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
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SnapshotTarkwa is a cornerstone asset and world-class open-pit mine. Four large open pits currently exploit the narrow, stacked, auriferous conglomerates.

In March 2023, Gold Fields announced a proposed JV between Tarkwa mine in Ghana and AngloGold Ashanti’s neighbouring Iduapriem mines. The companies have agreed on the key terms, and soon after the announcement, started negotiations with the Ghanaian government and other stakeholders to formalise the JV. These negotiations are continuing.

If suitable terms for all parties can be reached, the JV will create the largest gold mine in Africa, a high-quality operation supported by a substantial mineral endowment with an initial life spanning 18 years.

In 2024, several targets will be explored for hydrothermal ore bodies. A follow-up drilling programme will be conducted in Kottraverchy based on the current outcome of the underground proof-of-concept drilling programme.

Owners

SourceSource
CompanyInterestOwnership
Government of Ghana 10 % Indirect
Gold Fields Ltd. 90 % Indirect
The Tarkwa mine is 90% attributable to Gold Fields and 10% to the government of Ghana as a free carry. Gold Fields Ghana Ltd (“GFG”) owns the Tarkwa operation in Ghana.

Contractors

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Deposit type

  • Paleoplacer

Summary:

The Tarkwa orebody consists of a series of planar meta-sedimentary palaeoplacer deposits (2,132-2,095 Ma old), similar to those mined in the Witwatersrand Basin of South Africa (2,900-2,700 Ma old) with haematite being the dominant heavy mineral at Tarkwa in place of pyrite seen within the Witwatersrand deposits.

The mineral association of the reefs is consistent throughout all the open pits. The predominant gangue minerals are quartzite (83-90 wt%), muscovite (6-12 wt%) and kaolinite (1-3 wt%). The presence of kaolinite is an indication of the degree of superficial weathering of the orebody. Iron oxide, predominantly haematite, is the most common nonsilicate gangue mineral found in most parts of the deposit, varying between 2-3 wt%, along with minor magnetite. There are also trace amounts of todorokite (a hydrous manganese oxide, < 1 wt%) and copper. Sulphur exists in very minor quantities, especially associated with quartz veining at Pepe North and the Pepe West Limb area, most of which is already mined out. The concentrations are too low to have any detrimental effect on gold cyanidation or the environment. The reefs are interbedded with barren quartzite zones. The major gold bearing horizons are:
• AFc – up to 3.0 m thick, only occurs in the west and subcrops against the A1 in the east. Well sorted with rounded clasts of quartzite and visible gold. The AFc sub-outcrops against the A1 package at Akontansi East and is therefore not developed in the Pepe-Teberebie area.
• A1 -between 2-7 m thick, moderately to poorly sorted conglomerate and thin quartzites with occasional visible gold.
• A3 – up to 7 m thick, moderately sorted thin discontinuous conglomerate lenses within a package of cross stratified quartzites, visible gold is rare. In the Pepe-Teberebie area, the A2 quartzite unit is too thin to be mined separately, and the A1, A2 and A3 units are mined as a combined A reef package.
• CDE – up to 8 m thick and can be subdivided into the lower C reef and upper E reef, both of which are conglomeratic and are separated by the D reef quartzite.
• F2 – a variably developed polymictic gravel up to 2 m thick, essentially a marker horizon, except in the east where it carries low grades; and G - varies from a 2-6 m thick poorly sorted conglomerate with clasts of quartzite and phyllite.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnits2024202320222021202020192018201720162015
Gold koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe519 525 566 568 586 
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational metrics

Metrics202320222021202020192018201720162015
Plant annual capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe13.5 Mt13.5 Mt13.5 Mt13.5 Mt13.5 Mt
Stripping / waste ratio  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe5.2 5.3 5.2 6.4 5.9
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe15,029 kt14,176 kt16,703 kt14,551 kt14,754 kt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe77,494 kt75,471 kt87,085 kt86,603 kt86,667 kt
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe92,523 kt89,647 kt103,788 kt101,154 kt101,421 kt
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe13,749 kt13,791 kt13,527 kt13,608 kt13,520 kt

Production Costs

CommodityUnits20242023202220212020201920182017
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 958 / oz **   951 / oz **   940 / oz **  
All-in costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 958 / oz **   951 / oz **   940 / oz **  
^ Guidance / Forecast.
** Net of By-Product.

Financials

Units20242023202220212020201920182017
Capital expenditures (planned) M USD  ....  Subscribe
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 125.5   156   181  
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 125.5   156   181  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 720.4   666.9   710.8  
After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 101.3   40.1   85.4  

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 6, 2024
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EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2023
...... Subscription required ...... Subscription required ...... Subscription required 2022

Aerial view:

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