27+ Years Experience
We are here to give you our
Background & History
Prestea Sankofa Gold Limited (PSGL) is a wholly Ghanaian-owned gold mining company established in 1994 to extract gold mainly from historic mine tailings and waste rock resulting from a century of mining activity within Prestea and its environs in the Western Region of Ghana.
At its incorporation in 1994 PSGL was jointly owned by SAMAX Gold Resources, a British entity, and the Ghana National Petroleum Corporation (GNPC). The former had a 50.4% equity in the operation while the latter owned 39.6% shares, with the Government of Ghana having a 10% free carried interest.
In 1998, the then Ashanti Goldfields Company Limited (AGC) acquired SAMAX’s global assets, including it 50.4% stake in PSGL. Shortly however, AGC ceded off this 50.4% holding back to GNPC, bringing the latter’s total interest in PSGL to 90%.
PSGL operates a 300,000 tons per year Carbon-In-Leach (CIL) tailings gold processing Plant which was commissioned in 1995 with 4M tons of tailings and waste rock ore reserve, and a prospecting concession of 89.77 km2.
The company is currently operating on a blend of tailings materials from its ore base concession and relatively high grade mineralized dumps from toll treatment with small scale gold mining concerns.
At an average monthly throughput of 23,500 tons, the mine is capable of producing 20,000 tons of gold per year.