Mines

Where Gold Fuels Innovation and Communities Thrive.

​Kingdom Coin Mining is an incorporated company specializing in the exploration, development, and mining of gold resources in Ghana. The company holds the Adudanfed Aboso Gold Mining concession, known as the Aboso Gold Project, which spans approximately 16.07 km² in the Ashanti Gold Belt—a region renowned for its rich gold deposits. Kingdom Coin Mining’s operations encompass gold production, processing, sales, and exports, aiming to build a robust portfolio in the gold mining sector.

The company’s activities not only contribute to the global gold supply but also support the Kingdom Coin cryptocurrency, which is backed by the gold mined from the Aboso project. Through its endeavors, Kingdom Coin Mining seeks to provide value to investors and stakeholders while promoting sustainable and responsible mining practices.

Mines in our Portfolio

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  • Gold production in Ghana

    Gold operations in Ghana are in two sectors; the large scale and the small-scale sector. Usually, the large scale sectors are involved in the hard rock mining by either open pit or deep shaft mining with modernized sophisticated implements and machineries, whereas the small scale sector, mostly comprises of a maximum of 25acres land, forming one mining concession and are mostly involved in alluvial (Streams/rivers banks) mining.

    Aboso Gold Concessin

    Aboso Gold Concessin was granted the 16.07km2 Aboso Prospecting Licence, which was until recently, part of Gold Fields’ Damang Mining Lease on the prospecting licence, which encompasses the Aboso township and small-scale mining licences, extends for a few kilometres north of the Aboso township and along the Tarkwa- Aboso structural and lithological corridor.

    Gold Production

    Gold Production in Ghana

    Ghana presents a number of opportunities in the mining sector, especially in the gold production industry. Ghana has become the largest gold producer in Africa, toppling South Africa in a recent data released by the World Bank. The most thriving heavily depended on for the Country’s economic prospects is the ever thriving gold small and large scale mining industry.

    Ghana is well known for its history in gold mining in the African continent. The country is currently Africa’s largest gold producer of the precious metal following an improved performance in 2022 after a significant production downswing in 2021. Total gold produced in Ghana increased by 32% year-on-year to 3.72 million ounces from 2.82 million ounces recorded in 2021. The increase in gold production was driven by improved performance by both large scale and small scale operators with the latter subsector contributing principally to the upturn.

    Gold Mining

    Large scale mining sector performance

     

    Figures from the Ministry of Lands and Natural Resources indicate that the large scale sector produced a historic gold output of 3,011,548 ounces in 2022 which represents a year-on-year upturn of 11.1%. This put the subsector’s share of national gold production to approximately 81%, a drop from 96% in 2021.

    The Ghana Chamber of Mines attributes the growth in gold output in 2022 to a combination of fresh output and expansion of production at existing large scale mines. Companies such as the Asante Gold-operated Mensin Gold Bibiani Ltd, and Golden Team Mining achieved commercial production in 2022. Sankofa Gold Mine in Prestea also resumed operations in 2022 coupled with full year operations of Earl International Gold Limited and the Akrokeri Mine of Goldstone Resources Ltd which recorded their first gold pour in late 2021. The significant upturn in production by existing large scale companies such as Newmont’s Ahafo and Akyem Mines, Gold Fields’ Tarkwa Mine, AngloGold Ashanti’s Iduapriem and Obuasi Mines, and the Edikan Mine of Perseus also contributed to the rise in the sub-sector’s gold output.

    In 2021, the sector recorded a production downturn of 4.2%, which according to the Ghana Chamber of Mines was occasioned by broad decline in the output by more than 10% of some mines such as Asanko Gold Mines (15.8%), AngloGold Ashanti’s Obuasi (15.08%) and Iduapriem Mines (26.54%), Adamus Resources Ltd (13.2%) due to operational related challenges.