Innovative Mining Enterprise Maintains Highest Standards
Gold Cedi Goldfields Ltd, is a Ghanaian enterprise which launched in 2007. The company plays a key role in Ghana’s small and medium scale mining industry. CEO Kwajo Boateng explains, “When we first began, I approached many investors in Canada, where I reside, as well as the US, but investors who have not been to Ghana had trouble grasping the concept that there are profitable investment opportunities here. I had to invest my own capital to start the venture, but once we had a track record of success, investors began to be interested in us.” Gold Cedi mined around 50 gm to 100 gm of gold per day when it first began as the first mine in Asaman (Ashanti Region), which is now a major mining centre. Gold Cedi currently mines 300 gm to 600 gm per day.
Ghana has tremendous gold resources, however the country needs working capital and equipment to make the most of them. “Once alluvial mines in Ghana have the equipment such as excavators and washing plants in place, they begin to make profits in only a couple of weeks, as long as the land is rich” Mr. Boateng points out. He adds that Ghana also has resources of diamonds and bauxite that are waiting to be tapped.
Helping local communities
Gold Cedi offers outstanding growth potential, not only because it is a pioneer in the Asaman region but also because of its expertise. Mr. Boateng explains, “We have some of the best engineers and geologists in the business, and we always work according to high environmental and safety standards. Corporate social responsibility is very important to us as our motto is environmental safety, we assist local communities, by helping them to replant crops, drill wells and build teaching quarters.”
Mr. Boateng urges US investors to take a close look at Ghana. He says, “Gold Cedi is leading by example. We are now involved in a major project that will double our revenues. We are a small company and investors can come and grow with us. In the future, when people think about Ghana, they will think about Gold Cedi because of our innovation and social responsibility.”