OPERATIONS West Africa Region

West Africa region

Tarkwa has now fully transitioned to contractor mining and is well positioned to deliver sustained value, while the best long-term option for Damang to create future cash-flow is being realised through the implementation of the Damang Reinvestment project.

      Damang   Tarkwa   Asanko  
  Mining method   Open pit   Open pit   Open pit  
  Infrastructure   Damang has two open pits constituting the Mineral Reserves, seven open pits comprising the Mineral Resources, one ore stockpile, a centralised administrative office, engineering workshops and residence villages.   Four large open pits currently exploit the stacked narrow auriferous conglomerates. Tarkwa has an ore stockpile and ‘spent ore’ on the South Heap Leach pad included in Mineral Resources and Mineral Reserves. Tarkwa has a centralised administrative office, engineering workshops and residence villages.   Two open pits are currently exploiting the auriferous lode deposits at Akwasiso pit and Esaase pit. Nkran Cut 2 pit Mineral Reserve was depleted in June 2020, with approximately 68koz deferred to Cut 3 because of the wall failure in Q3 2019. Ore is hauled from Esaase via the 27km haul road to the Obotan plant. Asanko operates with several stockpiles at Esaase and at the Obotan plant area. Asanko has a centralised administrative office, engineering workshops and residence village.  
  Mineralisation style   Hydrothermal (orogenic) and palaeoplacer   Palaeoplacer   Hydrothermal shear hosted  
  Mineralisation characteristics  
  • Hydrothermal mineralisation hosted within structural shears and fault zone
  • Confined to well-defined prospective structural belts
  • Mineralisation within pods with short-range predictability
  • Exploration and resource definition programmes required to further define controls on mineralisation and continuity
  • Palaeoplacer characteristics are the same as for Tarkwa
  • Mineralisation hosted within sedimentary conglomerates of the Tarkwaian Group
  • Laterally continuous with mid- to long-range predictability
  • Clear patterns of mineralisation governed by sedimentary characteristics
  • Exploration programmes ongoing to test near-mine palaeoplacer potential
  • Deposits are typically hydrothermal shear hosted in style and situated within the Kumasi basin within the Asankrangwa Gold Belt
  • Mineralisation is structurally hosted along several regional NE trending shears and within sandstone, siltstone and shale sedimentary packages
  • Most deposits have intrusive tonalitic-porphyritic granite dyke associations
  • Exploration programmes are ongoing to identify strike and depth extensions to existing ore bodies, and to profile new opportunities along these well-defined structural pathways

Tarkwa, Damang and Asanko JV gold mines located in Ghana

Tarkwa continues to be a long-life, low-cost surface mining operation with a robust Mineral Reserve supporting a 14-year life-of-mine (LoM). Delivery against the Damang Reinvestment project (DRP) continued on track in 2020, with current Mineral Reserves scheduled for depletion in 2025. Importantly, LoM extension opportunities are the focus for studies at both Damang and Tarkwa in 2021.

Our Asanko JV partner, Galiano Gold, informed Gold Fields that an updated Mineral Resources and Mineral Reserves estimate is expected to be released in H2 2021. This estimate is expected to incorporate information from new exploration and infill drilling, updated geological models, updated modifying factors and a recalibrated cost base. As a result, Gold Fields is not in a position to provide relevant estimates and an updated LoM plan for Asanko as at 31 December 2020, and has excluded Mineral Reserves and Mineral Resources estimates for Asanko at this time. Gold Fields does not believe that the Mineral Reserves and Mineral Resources attributable to Asanko are material to Gold Fields’ Mineral Reserves and Mineral Resources as a whole. Gold Fields will assess the work when it is completed by Galiano Gold to determine whether an updated Mineral Reserves and Mineral Resources statement can be reported in H2 2021 or at the end of the year in accordance with our normal reporting cycle.

Exploration drilling and expenditure

In 2020, Damang’s exploration focused on early-stage exploration (target definition) programmes comprising scout reverse circulation (RC) drilling on the mining lease (ML). Aimed at continuing the success of 2019, Tarkwa’s exploration programme in 2020 remained focused on the on-lease palaeoplacer potential by delineating new resources and upgrading known resource areas. At Asanko, there is a strong focus on exploration across the largely under-explored tenement package.

Salient points

Mineral Resources   Mineral Reserves
16.3Moz*   7.1Moz*

* 90% attributable to Gold Fields and excludes Asanko joint venture (JV) 45% attributable to Gold Fields


Alfred Baku

Executive Vice President:
Head of Gold Fields in West Africa

Mr. Baku has over two decades of mining experience, mostly in senior management positions at Gold Fields. Prior to joining Gold Fields, Alfred worked in Australia for Billiton and Ranger Minerals in production and mine planning engineering capacities. He joined the Damang Mine in 2002 as mine manager and a member of the senior management team. Alfred was appointed General Manager of the Damang Mine in 2008, General Manager of the Tarkwa Mine in 2010, and subsequently, Vice President of Operations for both mines. In 2013, Alfred was promoted to Senior Vice President for West Africa, becoming a member of the Group’s Executive Committee. In February 2014, he became Executive Vice President and head of West Africa. As the Vice President of the Ghana Chamber of Mines’ Executive Council, Mr. Baku serves on the Advisory Board of the Ministry of Lands and Natural Resources. He is also a member of the Australasian Institute of Mining and Metallurgy.





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