Blue International sets long-term value target for Bogoso-Prestea gold mine
Blue International, an integrated mining, energy, and infrastructure firm, has shared details of its transformation program for the Bogoso-Prestea gold mine (Future Global Resources – FGR), Bogoso-Pristea Limited – BPL) in southwestern Ghana.
The programme was shared with the Minister of Lands and Natural Resources, Mr. Samuel A. Jinapor earlier this week, and will increase productivity and improve the safety of FGR BPL mining and processing operations.
Blue International’s Chief Executive Officer, Andrew Cavaghan, said the transformation program will turn around FGR BPL, which has been unprofitable for many years and has underperformed the stated gold reserve when acquired by Blue in October 2020.
“The Blue International leadership team has invested significant time to evaluate the operation and develop this program, which will achieve our goal of a mining operation that creates shared value for all of our stakeholders for years to come,” said Mr. Cavaghan.
The transformation program includes commitments to continue investing in the exploration and assessment of the gold ore body to increase resource confidence. The company will also invest USD $300m to maximize the potential of the refractory resource, which exists along the company’s 80-kilometre strike. Blue International has also started work to improve the organizational structure of FGR BPL.
“We are working closely with the authorities, our employees, local communities and suppliers to address legacy challenges and set up FGR BPL for long-term success. We have a strong belief in the long-term investment and development potential of the mine,” said Mr Cavaghan.
Blue International acknowledged and thanked the local community, traditional authorities, local and national governments for their ongoing collaboration.
About Blue International
Blue International Group is focused on sub-Saharan Africa. Blue International bought Bogoso-Prestea Limited (BPL) on October 1st, 2020 from Golden Star Resources Ltd.
The company is implementing a total transformation of BPL so it can be a multi-generational, sustainable operation that benefits Ghana and contributes to growing its business.
Blue International and FGR BPL have a strong belief in the long-term investment and development potential of Bogoso-Prestea mine and we are committed to building a multi-generational operation that delivers economic, environmental and societal value.
Blue International has a sustainable (ESG) approach to growing our business, which includes a commitment to protecting the environment and enhancing the communities where we operate.