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Saturday, 12 July 2014

Goldplat's recovery on hold in Ghana

As part of the Ghanaian Government’s effort to legalise all mining operations in Ghana, the Environmental Protection Agency (EPA) continues to put pressure on better regulation of the mining industry.

The drive from the EPA has led to a change in regulating on toll-treatment at third-party processors. As a result, gold recovery company Goldplat’s agreement with gold producer Endeavour Resources to buy tailings from artisanal and small-scale miners, which are processed by Endeavour, has been temporarily suspended to allow Goldplats to obtain an extra permit from the EPA. The company is confident that this will be secured in the near term to allow the toll-treatment to continue at its standard capacity. 

Goldplat's gold recovery operation, which enjoys tax-free status until 2016, is in the country’s free port of Tema, and continues to generate revenues by recovering gold from mining by-products.