Some of the participants at the forum
The Abosso Goldfields Limited (AGL), Damang Mine, in the Western Region has posted an estimated amount of $25 million as at December 31, 2023 as reclamation bond.
The security bond comprises $12.3 million cash and $12.7 million bank guarantee with First National (FN) Bank.
This means that, in the unlikely event that the mine fails to rehabilitate the disturbed lands, the state can fall on the $25 million bond to carry out the rehabilitation of the land.
The Operations Manager, AGL, Sampson Arthur, revealed this at the 2024 Open House Forum on rehabilitation planning for the Damang mine.
Participants at the event included chiefs and elders from host communities, officials of Minerals Commission and Environmental Protection Agency (EPA) among others.
He disclosed that AGL was the first mine to ever sign the Reclamation Security Agreement (RSA) with the Government of Ghana and posted a reclamation bond in November 2000.
He indicated that the mine continues to set aside $200,000 cash every month with the intention to improve the cash component of the bond and reduce the bank guarantee amount every year.
“Currently, 1,455 hectares (ha), representing 18 percent of Damang’s concession of 8,111 ha, is disturbed. Out of the figure 523 ha, representing 36 per cent has so far been reclaimed,” he added.
He was happy that since August 2022, the biannual event had helped stakeholders to dialogue and discuss mine closure plans, and also share interesting milestones on the mine’s rehabilitation journey.
Mr. Arthur noted that, AGL’s reclamation and rehabilitation of disturbed areas would be done alongside ongoing mining operations adding, “So that we do not wait until mining activities cease completely.”
He said, “Rubber plantation expansion continues to cover these areas as well and other sites disturbed by illegal miners”.
The Manager, Environment Unit of AGL, John Kwasi Adingelah, said the RSA, is to ensure that the company, reclaim all disturbed areas at the end of the mine life.
“And as part of measures to ensure that adequate funds are readily available at closure for reclamation, AGL continue to update the reclamation bond posted with the government through the EPA,” he added.
From Emmanuel Opoku, Damang