Asante Gold Plans Underground Mining at Bibiani

Asante Gold Corp has completed a Definitive Feasibility Study (DFS) for its Bibiani Mine in Ghana, confirming the potential for a seven-year underground mining operation. The study projects the extraction of approximately 798,000 ounces of gold at an all-in sustaining cost of $1,035 per ounce, with plans for annual production to exceed 250,000 ounces by 2026. Initial capital requirements for the underground project are estimated at $116 million, with construction expected to begin in late 2025. Asante's CEO, Dave Anthony, emphasized that since acquiring the Bibiani property in 2021, the company has revitalized its operations and reshaped its business plan to focus on underground reserves. The company is also planning infrastructure improvements, including a new sulphide treatment plant, to support this initiative. The positive outlook for the Bibiani Mine is expected to enhance Asante's position in the gold mining sector, despite competition from larger players like Zijin Mining Group.