By Ghana News 
Prestea Sankofa Gold Limited (PSGL) has officially entered a strategic partnership with the Chinese investment firm Guangzhou Hozdo Group. This collaboration aims to revive the state-owned mining company, which is a subsidiary of the Ghana National Petroleum Corporation.
The company has faced years of operational struggles, including aging infrastructure and deteriorated equipment. This deal brings the necessary technical expertise and financial backing to modernize these mining operations.
Western Regional Minister Joseph Nelson welcomed the partnership, highlighting its potential to boost both the company and the local economy. He noted that his priority remains supporting struggling enterprises to help them attract urgent investment.
Managing Director Alhaji Ishaq Dauda confirmed that the management team has worked hard to prepare the mine for this growth phase. They recently replaced critical infrastructure, such as Carbon-in-Leach tanks, to improve overall efficiency.
The team also completed the construction of a modern tailings dam to better handle environmental management. These improvements provide a stable foundation for the new investors to begin their work.
Despite experiencing a production hiatus over the past five months, the company successfully maintained its commitment to employees. Management ensured that workers received their salaries throughout this period, a notable improvement over previous shutdown eras.
The new strategy focuses on redesigning existing systems and integrating hard-rock mining into current operations. This expansion requires significant new equipment to complement the existing processing facilities.
The partnership with Guangzhou Hozdo Group provides the essential resources to execute these ambitious plans. By modernizing its approach, PSGL intends to transform itself into a more competitive and sustainable mining entity.
Regional authorities believe this development offers a real opportunity for the company to contribute meaningfully to national development. With the right technical support, the mine expects to unlock new opportunities for expansion in the Western Region.
The collaboration marks a turning point for the state-owned enterprise after a long period of production setbacks. Stakeholders are optimistic that this injection of capital will restore the company’s fortunes.
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Source: ghananewspage.com