Asanko Gold Mine, a new mining company, is to begin operations next year with an initial production target of 200,000 ounces of gold.
This is expected to increase to about 500,000 ounces annually, by the year 2021.
Mr Jonathan Ebo Collins, the General Manger, said the company has projected to invest about US$325 million during the first three years of operation.
He made these known, when the Lands and Natural Resources Minister, Nii Osah-Mills, accompanied by the Ashanti Regional Minister, Mr Samuel Sarpong, inspected the mine at Manso-Nkran in the Amansie West District.
It would be mining the gold ore at Manso-Nkran, Abore, Adubiaso and Asuadai.
The company was borne out of the merger of Adansi Gold and Keegan Resources and presently employs a total of 696 workers including 23 expatriates.
Mr Collins told the Minister that the health, safety and security of the employees and the environment were a key priority.
He also underlined their determination to build and maintain strong working relationships with all stakeholders, saying ?our goal is to mine gold in a responsible manner that leads to sustainable development and tangible benefits for all stakeholders?.
They would support community development, something he said, was critical to the long-term success of their operation.
Nii Osah-Mills hailed the company for the decision and said it was refreshing that at a time when the industry was becoming less attractive with hiring shrinking, Asanko was stepping in to give jobs and support the livelihood of thousands of people.
The company has already cleared 180,000 square metres of land, built an air strip, settlement for 88 households at Manso-Nkran and installing its processing plants in readiness for smooth take-off.
The Minister said Asanko has made a strong statement of hope for the industry when others are downsizing.