Newcore Gold plans to invest more than US$250 million in Ghana over the next few years as it advances its Enchi Gold Project toward production, according to the company’s President, CEO and Director, Luke Alexander. Speaking on the project’s outlook, Mr. Alexander expressed strong confidence in Ghana as a mining jurisdiction, describing the country as …
Newcore Gold to invest over $250m in Ghana’s Enchi Project
Newcore Gold plans to invest more than US$250 million in Ghana over the next few years as it advances its Enchi Gold Project toward production, according to the company’s President, CEO and Director, Luke Alexander.
Speaking on the project’s outlook, Mr. Alexander expressed strong confidence in Ghana as a mining jurisdiction, describing the country as a “tier one” destination for gold investment with a supportive regulatory environment and strong government collaboration.
“We view Ghana as a true partner in advancing mining projects,” he said, noting that significant backing for the Enchi project has already come from large institutional funds focused on the mining sector that recognise Ghana’s investment fundamentals.
The Enchi Gold Project, located in southwest Ghana along the Bibiani Shear Zone, is currently advancing toward a Pre-Feasibility Study, with the company targeting production within the next few years. The project is situated on the same structural trend as the Chirano Mine, owned by Asante Gold, approximately 50 kilometres to the north, underscoring the area’s geological continuity.
Mr. Alexander stated that the planned capital injection of over a quarter of a billion dollars will support the transition from exploration to development and ultimately production.
He highlighted Ghana’s position as Africa’s largest gold producer and the sixth largest globally, citing the presence of major mining companies such as Newmont, AngloGold Ashanti, Gold Fields and Zijin as evidence of the country’s attractiveness to global capital. He also pointed to the availability of skilled labour and established mining service providers as key advantages for investors.
The Enchi project covers approximately 248 square kilometres and currently outlines an estimated 10-year mine life, with further exploration upside that could potentially extend operations significantly.
Beyond capital investment, Mr. Alexander indicated that the company is integrating environmental, social and governance (ESG) principles into its development strategy, including alignment with relevant UN Sustainable Development Goals and contributions to local employment and community initiatives in the Enchi area.
