Japanese firm to commit initial capital of $2m into $2.5b Gold Project in Ghana
A mining firm based in Japan, Earth Dragon Resources Incorporated has announced that it is ready to commit an amount of $2 million to conduct operations on mineral concessions in the Nkwanta and Asuogya locations.
The Nkwanta and Asuogya locations which are parts of the Ashanti Gold Belt of Ghana has one of the most prolific gold belts in the world with over 100 million proven ounces uncovered and current investment in excess of $2.5 billion.
Earth Dragon has stated on its website that it has entered a Gold Project Joint Venture Agreement with a local Ghanaian mining firm Netas Mining Company Ltd.
According to the joint venture agreement, Earth Dragon Resources shall commit a minimum of $2 million over the next 2 years to earn a 20% ownership plus first right of refusal on all future claims to the prospect location and also develop, maintain, and manage the mining site, facilities, equipment and all mining operations including exploration plus development of a pilot production facility.
Netas Company on the other hand will manage compliance with applicable mining, environmental, business and tax rules, regulations and laws.
By Ekow Quandzie