Our journey began with a mining convention attribution on March 30th, 2022, followed by a mining license award on August 17th, 2022. Less than 18 months later, on December 22nd, 2023, we broke ground and we are on track to commence production in the fourth quarter of 2024. This marks the first phase of our project, where we will rapidly ramp up to an annual production rate of 10 million tonnes of Direct Shipping Ore (DSO). After 2030, with the completion of the railroad linking Golden Minerals Company Ltd to the Port of Kribi, we aim to reach our full capacity, producing up to 25 million tonnes of iron ore annually, Gold and other related mineral.
Operations
Timeline and Production Goals
Employment
Moreover, the Golden Minerals Company Ltd project is a catalyst for job creation. We expect to create over 1,000 jobs during the construction phase and more than 5,000 direct and indirect jobs during operations. This influx of employment will invigorate local economies, elevate living standards, and contribute to community development.
Environmental Social, and Governance (ESG) Commitment
Sustainability is at the heart of our operations. Our project has undergone extensive environmental and social impact assessments to ensure it meets the highest standards of sustainability. We are committed to minimizing our environmental footprint through measures such as deforestation mitigation, a comprehensive mine closure plan, and a greenhouse gas reduction strategy. Biomass energy generation forms a key part of our waste management plan.
Socially, we are dedicated to enhancing the quality of life for local communities. Our initiatives in health, education, and services aim to bring tangible benefits to the region. Special consideration is given to indigenous communities, and we are exploring ways to distribute excess electricity to neighbouring areas, further supporting local infrastructure.
Partners
Our success is bolstered by our strategic partnerships. Bestway Finance, DHL Logistics and Tsingshan Steel are some of the leading firms bringing their unparalleled expertise and resources to the table, ensuring the Golden Minerals Company Ltd project is executed to the highest standards of efficiency and sustainability.