logo
Asante Gold: Scaling Production and Unlocking Value in Ghana's Proven Gold District

Asante Gold: Scaling Production and Unlocking Value in Ghana's Proven Gold District

Globe and Mail05-05-2025

West Africa's Trusted Mining Destination with Growing Gold Output and ESG Leadership
Why This Matters
Ghana-focused gold producer with established infrastructure, ESG credentials, and an experienced leadership team accelerating mine development
Asante Gold is building momentum as one of West Africa's fastest-growing gold producers. With deep regional experience and a strategic land package covering 80 kilometers of highly productive gold trends, Asante has quickly ramped up operations from explorer to operator. In 2023, the company produced 200,000 ounces of gold and plans to increase that to 355,000 ounces in 2024. Backed by a successful $160 million capital raise, the company is investing heavily into infrastructure and mine expansion to meet its 2028 production target of 500,000 ounces annually.
Led by CEO Dave Anthony, with 45 years of global mining experience, Asante is uniquely positioned in Ghana—a stable, mining-friendly jurisdiction with over a century of gold mining history. With only four expats out of 1,500 staff, the company is deeply rooted in local engagement. Asante also maintains an A-rated ESG score, reflecting its commitment to responsible development and sustainability. Underground development, mine life extension to 2035, and enhanced stripping for ore access are all underway—signaling a transformative chapter for this West African gold producer.
Key Takeaways
Producing gold in Ghana, a top-tier mining jurisdiction
355,000 ounces targeted for 2024; 500,000 ounces/year by 2028
80 km of high-grade gold structures under control
A-rated ESG score audited annually by Digbee
Experienced leadership and strong community integration
Learn More About Asante Gold
Published by BTV - The Agency
Discover Investment Opportunities with BTV. Delivering engaging content to Investors for 25+ years.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Cocoa Prices Climb as the Dollar Falls and Ivory Coast Cocoa Exports Slow
Cocoa Prices Climb as the Dollar Falls and Ivory Coast Cocoa Exports Slow

Globe and Mail

time15 hours ago

  • Globe and Mail

Cocoa Prices Climb as the Dollar Falls and Ivory Coast Cocoa Exports Slow

July ICE NY cocoa (CCN25) Thursday closed up +128 (+1.29%), and July ICE London cocoa #7 (CAN25) closed up +65 (+0.99%). Cocoa prices settled higher on Thursday, with NY cocoa posting a 1-1/2 week high and London cocoa posting a 1-week high. Thursday's fall in the dollar index (DXY00) to a 6-week low prompted short covering in cocoa futures. Gains in London cocoa were limited on Thursday after the British pound (^GBPUSD) rallied to a 3-1/4-year high, undercutting cocoa that is priced in terms of sterling. Cocoa also has support due to the slowing pace of Ivory Coast cocoa exports, signaling tighter future cocoa supplies. Monday's government data showed that Ivory Coast farmers shipped 1.6 MMT of cocoa to ports this marketing year from October 1 to June 1, up +6.7% from last year but down from the much larger +35% increase seen in December. Last month, NY cocoa rallied to a 4-month nearest-futures high on concerns about weather in West Africa. Despite the recent rains in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor. Cocoa prices also have support on quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested through September. Cocoa processors are complaining about the crop's quality and have rejected truckloads of Ivory Coast cocoa beans. Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop. According to Rabobank, the poor quality of the Ivory Coast's mid-crop is partly tied to late-arriving rain in the region that limited crop growth. The mid-crop is the smaller of two annual cocoa harvests, which typically starts in April. The average estimate for this year's Ivory Coast mid-crop is 400,000 MT, down -9% from last year's 440,000 MT. The rebound in current cocoa inventories is bearish for prices. Since falling to a 21-year low of 1,263,493 bags on January 24, ICE-monitored cocoa inventories held in US ports have rebounded and climbed to an 8-1/2 month high of 2,232,584 bags Thursday. Concern that consumer demand for cocoa and cocoa products will wane is bearish for cocoa on fears that tariffs will boost already-high cocoa prices. On April 10, Barry Callebaut AG, one of the world's biggest chocolate makers, cut its annual sales guidance in the face of high cocoa prices and tariff uncertainty. Also, chocolate maker Hershey Co. recently reported that Q1 sales fell by 14% and said it anticipated $15-$20 million in tariff costs in Q2, which will boost chocolate prices and further weigh on consumer demand. In addition, Mondelez International reported weaker-than-expected Q1 sales and said consumers are cutting back on snack purchases due to economic uncertainty and high chocolate prices. Cocoa prices also have a positive carryover from recent news that showed better-than-expected global cocoa demand. Q1 North American cocoa grindings fell -2.5% y/y to 110,278 MT, better than expectations of at least a -5% y/y fall. Also, Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, a smaller decline than expectations for a -5% y/y drop. In addition, Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT, a smaller decline than expectations for a fall of at least -5% y/y. Smaller cocoa supplies from Ghana, the world's second-biggest cocoa producer, are supportive for prices after Cocobod, Ghana's cocoa regulator, cut its Ghana 2024/25 cocoa harvest forecast in December for the second time this season to 617,500 MT, down -5% from an August estimate of 650,000 MT. Last Friday, The International Cocoa Organization (ICCO) revised its 2023/24 global cocoa deficit to -494,000 MT from a February estimate of -441,000 MT, the largest deficit in over 60 years. ICCO said 2023/24 cocoa production fell -13.1% y/y to 4.380 MMT. ICCO said the 2023/24 global cocoa stocks/grindings ratio was 27.0%, a 46-year low. Looking ahead to 2024/25, ICCO on February 28 forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years. ICCO also projected that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.

DTX Group Debuts as Global Force, Powered by Strategic Vision and Independence Under Hussein Lookmanjee's Leadership Français
DTX Group Debuts as Global Force, Powered by Strategic Vision and Independence Under Hussein Lookmanjee's Leadership Français

Cision Canada

time02-06-2025

  • Cision Canada

DTX Group Debuts as Global Force, Powered by Strategic Vision and Independence Under Hussein Lookmanjee's Leadership Français

Backed by years of preparation and a clear global strategy, DTX Group launches to capitalize on emerging market opportunities and reshape the international aviation maintenance landscape. DUBAI, UAE, June 2, 2025 /CNW/ -- DTX Group proudly announces its official launch, marking a strategic evolution in the global aerospace sector. This milestone coincides with Hussein Lookmanjee's full divestment from Drayton Aerospace, with his remaining equity acquired by Lion Capital. This move enables Lookmanjee to fully commit his efforts and resources to the international growth and leadership of DTX Group. In 2019, Drayton Aerospace defined two parallel strategic paths: a regional focused business led by local management, and an international division under the leadership of Hussein Lookmanjee. Recognizing Lookmanjee's strengths in launching greenfield operations, the board tasked him with leading international operations, while localizing leadership of its China operations by appointing Mr. Hong Qi Ye as the China President, in 2020 and later in 2021, Mr. Steven Young as CEO of Drayton Aerospace. Importantly, while Lion Capital has assumed the controlling interest of Drayton Aerospace's China-based operations; along with eight other Chinese partners, all non-China Drayton entities—including the Brazil-based MRO companies and global support units—are now part of the DTX Group and remain under the sole ownership of Hussein Lookmanjee. This structural realignment reflects the differing strategic priorities between the China-focused shareholders and the internationally driven DTX team. Over the last six years, Lookmanjee and his senior team have built a strong global platform—opening new maintenance facilities, launching a parts distribution business, and expanding into key markets such as South America and the Middle East. Under his leadership Drayton Aerospace has become a leading independent player in the civil, freight aviation MRO markets. "Now is the right time for this transition," said Hussein Lookmanjee. "DTX Group has evolved into a globally competitive business that merits dedicated focus. This move enables us to pursue our original international vision with greater clarity and autonomy. We plan to fully invest the proceeds from the Drayton divestment into strategic growth opportunities, including three exciting acquisitions slated for completion before year's end." Although DTX Group's international strategy experienced temporary delays during the COVID-19 pandemic, momentum has since resumed. Formally established in September 2024, DTX Group is headquartered in the Middle East, with its parts trading business operating in the United States and two MRO facilities located in Brazil. The Group is on track to launch a new MRO facility in the Middle East by Q3 2025. with additional expansion targeted across Africa and Europe. DTX Group will now operate independently to pursue global growth opportunities. Its international team—assembled and refined over several years—has been fully integrated into the organization and is well-positioned to lead the next phase of development with a clear and focused strategic vision.

Canadian gold miner seeks mediation in African dispute
Canadian gold miner seeks mediation in African dispute

Canada Standard

time30-05-2025

  • Canada Standard

Canadian gold miner seeks mediation in African dispute

Barrick has said its employees remain in detention in Mali, and exports from its mine have been blocked for months Canadian company Barrick Mining has appealed to the World Bank's arbitration tribunal to settle a legal dispute with Mali. The miner currently risks losing control of its gold operations in the West African country, Reuters reported on Friday. The request to the International Centre for Settlement of Investment Disputes (ICSID) comes ahead of a Malian court ruling scheduled for June 2 on the government's application to place the mine under provisional administration. Barrick's Loulo-Gounkoto complex, which produced nearly 700,000 ounces of gold in 2023, has been closed since January after Mali seized three tons of gold from the mine over alleged unpaid taxes - a claim Barrick denies. According to a filing on the ICSID's website, the mining giant is seeking "provisional measures" to prevent further actions by the Sahel state's military leadership that could exacerbate the dispute. The former French colony is one of Africa's top gold producers, with large-scale operations such as the Loulo-Gounkoto mines, which are 80% owned by Barrick and 20% by the Malian government. Since taking power in a coup in 2020, the new leadership in Bamako has sought more revenue from the sector to boost state income amid rising gold prices. In 2023, a new mining code was introduced allowing the military government to claim a stake of up to 30% in any new projects. READ MORE: Mali and Canadian miner fail to resolve payment dispute Bloomberg Barrick, one of the world's largest gold producers, has been operating in Mali for nearly three decades and insists it has complied with Malian law and its binding mining conventions. Tensions escalated in late 2024 when four Barrick executives were detained and a warrant was issued for CEO Mark Bristow, all on charges of money laundering and financing of terrorism - allegations the company says are untrue. Negotiations between the two sides recently collapsed after Mali demanded a lump-sum payment of 125 billion CFA francs ($197 million) in unpaid revenues, while Barrick proposed a structured payment plan. Earlier this week, the mining firm issued a statement claiming that the Malian government's attempt to "interfere with Loulo-Gounkoto's operations is without precedent or lawful justification." "This latest escalation by the Malian government follows the continued unlawful detention of several Barrick employees - now held for over five months - and the ongoing blockage of gold exports from the complex," the company said. Barrick is not the only Western company under pressure in the Sahel region. In neighboringNiger, French nuclear fuel firm Orano lost its license to the Imouraren uranium mine in 2024. The military government also seized its subsidiary Somair later that year. Orano has taken legal action against Niger's government, citing illegal detention and property confiscation. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store