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Ghana
Akyem Mine

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 Location:
76 km SE from Kumasi, Ghana

  Address:
P.O. Box 251
Nkawkaw
Ghana
Phone+233-(0)50-132-3692
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start2013
Akyem production is expected to decrease in 2023 as stripping begins for a new layback to extend mine life, with stripping expected to peak in 2024.

Akyem unit costs are expected to be impacted by lower production volumes due to mine sequencing in 2023.


Owners

Source: p. 44, 172, 187
CompanyInterestOwnership
Newmont Corp. 100 % Indirect
Newmont Golden Ridge Ltd. (operator) 100 % Direct
The Akyem Mine is a gold mine located at New Abirem in the Eastern Region of Ghana, wholly owned by Newmont Golden Ridge Limited (NGRL).
Newmont Golden Ridge Limited is a wholly-owned subsidiary of Newmont Corp.

Contractors

ContractorContractDescriptionRef. DateExpirySource
Volta River Authority Power supply The Akyem mine operates using electrical power generated by the Volta River Authority along with supplemental power generation capacity built by Newmont. Dec 31, 2022


Deposit Type

  • Orogenic
  • Vein / narrow vein

Source: Source

Summary:

The Akyem mine is an orogenic gold deposit that has oxide and primary mineralization.

The Akyem deposit is localized in the hanging wall (upper side or plate) of a regional fault that trends to the northeast (N70°E) parallel to regional structures and dips to the southeast (S60°E) parallel to the foliation developed in a Birimian host rock. The planar fault structure (thrust fault)[11,12] is intensely sheared and exhibits a mylonitic to cataclastic fragmental texture consisting of lens of metavolcanic fragments in a matrix of sheared and plastically deformed graphitic material. The presence of graphitic rubble zones suggests reactivation of the fault zone over time. The fault occurs in fine grained, gray green massive to locally sheared Birimian mafic metavolcanic rocks exhibiting chlorite and carbonate alteration that locally contain euhedral magnetite. Immediately overlying the metavolcanics is a distinctive gray green pink unit containing blue quartz phenocrysts in a mylonitic matrix (quartz epiclastic rock). The upper and lower contacts of this unit are typically sheared and brecciated, and the upper contact of this unit is locally in sharp contact with overlying light gray tan chert. This unit is considered sedimentary and represents a distinctive marker between the metavolcanic and metasedimentary units of the Birimian. The overlying metasedimentary rocks are for the most part turbidite sequences consisting of graywacke, argillites, black carbonaceous siltstone, and fine grained arkosic sandstones. This unit grades upward into a saprolitically weathered zone (deeply weathered bedrock largely altered to clay) that ranges from 10 to 50 m thick. The saprolite consists of lateritic clay and quartz fragments with as much as 25% weathered rock remaining within the saprolite. Near the surface, in the upper 1–5 m, red lateritic clay is developed as subsoil.

The Akyem mine is an orogenic gold deposit that has oxide and primary mineralization. The gold is found in shear zones within greenschist-facies metasediments that have kilometer-scale vertical and lateral extent. Gold occurs primarily in pyrite and secondarily as native gold in quartz veins.


Mining Methods

  • Truck & Shovel / Loader

Source:

Summary:

Akyem mine is an open pit mining operation.

The mining method at the Akyem mine involves removal of ore and waste rock from an open pit mine. The open pit is an elongated structure consisting of a large western lobe (Main Pit) and a small eastern lobe (East Pit), connected near the surface.

Mining is conducted using large scale conventional hard rock drill and blast open pit methodology. Run of Mine (ROM) ore is trucked from the pits using CAT 785 DT’s.


Crushing and Grinding
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Processing

  • Smelting
  • Agitated tank (VAT) leaching
  • Counter current decantation (CCD)
  • Carbon in leach (CIL)
  • Elution
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Source: Source

Summary:

The Akyem Process Plant consists of a conventional mill and carbon-in-leach (CIL) circuit. Ore from the mine workings is transported to a crushing, grinding and milling circuit. Ore processing consists of CIL cyanidation, elution and gold recovery. Tailings material is conveyed by pipeline to a counter-current decantation (CCD) plant where tailings are rinsed with water to reduce Weak Acid Dissociable (WAD) cyanide concentrations to less than 50ppm WAD cyanide. The tailings are pumped from the CCD circuit via a dedicated pipeline contained within a lined tailings trench, to an engineered tailings storage facility (TSF) for final disposal. Tailings water is recovered from a decant pond, and recycled back to the process plant for re-use in the milling circuit.

Recoveries & Grades:

CommodityParameter2022202120202019201820172016
Gold Recovery Rate, % 89.589.490.690.891.292.391.7
Gold Head Grade, g/t 1.751.691.581.821.821.921.92

Production:

CommodityUnits2023202220212020201920182017
Gold koz 315-345 ^420381371422414473
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined 6,261 kt7,515 kt7,793 k tons12,845 k tons11,709 k tons9,058 k tons
Waste 22,816 kt18,682 kt23,248 k tons22,842 k tons23,966 k tons26,169 k tons
Total tonnes mined 29,077 kt26,197 kt31,041 k tons35,687 k tons35,675 k tons35,227 k tons
Tonnes processed 8,195 kt7,959 kt9,007 k tons8,660 k tons8,566 k tons9,273 k tons
Daily mining rate 88 kt91 kt
Annual processing capacity 7.7 Mt8.5 Mt

Reserves at December 31, 2022:
Cut-off grade utilized in 2022 reserves not less than 0.52 gram per tonne.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven & Probable Stockpiles 11,900 kt Gold 0.71 g/t 270 koz
Proven & Probable In-Situ (OP) 22,300 kt Gold 1.66 g/t 1,190 koz
Proven & Probable Total 34,200 kt Gold 1.33 g/t 1,460 koz
Measured & Indicated In-Situ (OP) 1,700 kt Gold 0.69 g/t 40 koz
Measured & Indicated In-Situ (UG) 8,300 kt Gold 3.92 g/t 1,050 koz
Measured & Indicated Total 10,000 kt Gold 3.38 g/t 1,090 koz
Inferred In-Situ (OP) 1,800 kt Gold 1.18 g/t 70 koz
Inferred In-Situ (UG) 5,300 kt Gold 3.27 g/t 560 koz
Inferred Total 7,100 kt Gold 2.74 g/t 620 koz

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Credits (by-product) Gold USD -3 / oz   -5 / oz   -4 / oz  
Total cash costs (sold) Gold USD 900 / oz ^†   804 / oz†   691 / oz†   621 / oz†   558 / oz†   546 / oz†   573 / oz†  
All-in sustaining costs (sold) Gold USD 1,160 / oz ^†   972 / oz†   913 / oz†   757 / oz†   718 / oz†   705 / oz†   664 / oz†  
^ Guidance / Forecast.
† Net of By-Product.

Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD 30  
Sustaining costs M USD 32  49  26  28   40   26  
Capital expenditures M USD 34  66  27  33   40   26  
Revenue M USD 749  680  671  585  
Pre-tax Income M USD 257  284  291  176   125   152  


Pipelines
TypeMaterialDiameterLengthDescription


Heavy Mobile Equipment as of December 31, 2022:
Source: Source p.46
HME TypeSizeQuantity
Backhoe 2
Excavator 2
Truck (haul) 136 t 21

Mine Management:

Job TitleNameEmailProfileRef. Date
Chief Metallurgist Andrew Agaza LinkedIn May 15, 2023
Construction Manager Jayne Finch jayne.finch@newmont.com LinkedIn May 31, 2023
Exploration Manager Samuel Bosomtwe LinkedIn May 15, 2023
General Manager - Processing Daniel Egya-Mensah daniel.egya-mensah@newmont.com LinkedIn May 15, 2023
Health & Safety Superintendent Samuel Eshun LinkedIn May 31, 2023
Health & Safety Superintendent Rockson Owusu LinkedIn May 31, 2023
Mine Manager Robert Owusu-Bempah LinkedIn May 15, 2023
Process Maintenance Superintendent Michael Coleman LinkedIn May 15, 2023
Process Operations Superintendent Collins Adu-Poku LinkedIn May 31, 2023
Technology Manager Elizabeth Twum Bannor LinkedIn May 15, 2023

Staff:

Total WorkforceYear
1,900 2022
1,400 2018
1,400 2017
1,400 2016
1,450 2015

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
Form 10-K 2022
Other 2022
Sustainability Report 2022
Year-end Mineral Reserves 2022
Form 10-K 2021
Other 2021
Quarterly Report 2021
Form 10-K 2020
Other 2020
Year-end Mineral Reserves 2020
Form 10-K 2019
Year-end Mineral Reserves 2019
Form 10-K 2018
Other 2018
Quarterly Report 2018
Year-end Mineral Reserves 2018
Form 10-K 2017
Year-end Mineral Reserves 2017
Form 10-K 2016
Other 2016
Other 2016
Press Release 2016
Year-end Mineral Reserves 2016
Form 10-K 2015
Other 2015
Other 2014
Form 10-K 2013

Aerial view:

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