Wedoany.com Report-Sept. 30, Asante Gold (TSXV:ASE) announced on Monday that construction and commissioning of its sulphide plant at the Bibiani gold mine in Ghana are complete. The company has been ramping up activities at Bibiani throughout 2025, supported by an initial $100 million deposit from Fujairah Holdings, Asante’s second-largest shareholder, as part of a $500 million gold forward sale agreement signed in December 2024.

Bibiani gold mine construction.

Operations at the Bibiani plant began on September 27 with 12-hour daily shifts, and 24-hour operations are scheduled to start on September 30. The company plans to optimize plant performance throughout October to achieve +85% gold recovery, with expectations to reach 92% by late October. The sulphide plant has a nameplate capacity of 4 million tonnes per year, and aerial drone footage of the facility is available for viewing.

CEO Dave Anthony stated: “This is a year of executing our strategic plan to allocate significant capital to our mining and processing operations at both Bibiani and Chirano. With the finances now in hand, we expect to grow long-term gold production to 450,000 to 500,000 ounces of gold per year.”

He added: “With construction and commissioning of the Bibiani sulphide treatment plant complete, we are focused on the next phase, which moves the plant into operation, ramp-up, testing and optimization to achieve 92% recovery and enhance Bibiani’s growth profile.”

The ramp-up at Bibiani is part of Asante’s broader strategy to expand production and improve operational efficiency across its Ghanaian portfolio. The project leverages funding from Fujairah Holdings and other sources to support both short-term operational milestones and long-term growth objectives.

Asante’s shares on the Toronto Stock Exchange closed up 2.84% on the announcement. The company currently has a market capitalization of C$1.75 billion ($1.26 billion), reflecting investor confidence in the progress at Bibiani and the potential for future production growth.

The successful commissioning of the Bibiani sulphide plant positions Asante to increase annual gold output, enhance recovery rates, and support its strategic plan for sustainable growth. The move also strengthens the company’s capability to meet forward sale commitments and expand its operational footprint in Ghana, where both Bibiani and Chirano mines form the core of its production portfolio.

Overall, Asante Gold is transitioning from construction and commissioning to full operational ramp-up, targeting maximum efficiency, optimized recovery, and a steady increase in gold production, aligning with its medium- and long-term growth strategy.