Damang Gold Mine invests $250 million in mining equipment
Damang Gold Mine Limited has made an investment worth $250 million in mining equipment for its operations. The fleet of equipment is currently being transported from Accra to Damang.
The equipment includes Liebherr excavators, 30 triple 777 dump trucks, and 15 Caterpillar 395 excavators. Additional machinery is expected to be added to the fleet in the coming months. The investment is expected to increase production capacity, improve operational efficiency, create employment opportunities, and deepen Ghanaian participation in large-scale mining. The Damang Mine was formerly operated by Gold Fields Ghana Limited, and was handed over to Engineers and Planners Limited after a successful bid for the concession.
Ibrahim Mahama, the Chief Executive Officer of Engineers and Planners, highlighted his three-decade association with the Damang Mine and pledged major investments to benefit the surrounding communities. He said, "I would say that, look, if we all put our minds together, this is a success story. And the plan I have for Damang Mine is not a joke. I just want to prove that we can invest in ourselves in this country." Mr. Mahama also outlined infrastructure plans, including the construction of a concrete road linking Damang to Cape Coast within two years and the development of an airport within six months.
Quick Summary
Damang Gold Mine Limited, an indigenous mining firm, is making significant investments in its operations. The company is acquiring new mining equipment- hinting at a major shift in the mining landscape.
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