Prestea Sankofa Gold Limited has entered into a strategic partnership with Chinese investment firm Kingmamo Resources Holdings Company Limited in a move aimed at revitalising operations, increasing production and strengthening the performance of the state-owned mining company.
The Memorandum of Understanding (MoU), signed on June 10, 2026, is expected to provide Prestea Sankofa with modern mining equipment, technical expertise and operational support as the company seeks to overcome longstanding production challenges and improve efficiency.
Prestea Sankofa Gold Limited is a subsidiary of the Ghana National Petroleum Corporation (GNPC) and forms part of broader efforts to enhance state participation in Ghana’s mining sector.
Production Targets Set to Triple
Managing Director of Prestea Sankofa Gold Limited, Alhaji Ishaq Dauda, said the partnership could significantly transform the company’s operational capacity.
He explained that ageing machinery and frequent maintenance breakdowns have constrained productivity over the years, limiting the company’s ability to maximise output.
“Look at the current state of the machines we have. It can take up to about 21 hours of maintenance. With this partnership, we are hopeful of significantly increasing our production,” he stated.
According to him, the company currently produces approximately 50 kilograms of gold per month. With the introduction of new equipment and technical support, management is targeting monthly production of between 100 and 150 kilograms.
If achieved, the target would effectively double or even triple current production levels, increasing revenues and strengthening returns to GNPC and the national economy.
“The more profit we make, the more GNPC benefits and ultimately the country benefits as well,” Alhaji Dauda added.
Technology and Skills Transfer
Chairman of Kingmamo Resources Holdings Company Limited, Zhon Danhna, popularly known as Kofi Danny, said the partnership goes beyond equipment supply and will focus on developing local technical capacity.
“We are coming to introduce some of the best mining and tailing machines to Sankofa and also bring the expertise to train local workers to manage the machines effectively,” he said.
The company plans to deploy advanced mining and tailings-processing technology that could help recover additional gold from previously processed material while improving operational efficiency and reducing waste.
Industry observers note that modern tailings recovery systems have become increasingly important in mining, helping operators improve output while enhancing environmental management practices.
Strategic Boost for Ghana’s Mining Sector
GNPC Board Member Kwame Jantuah described the agreement as a significant step toward strengthening Ghana’s state-linked mining assets and increasing gold production.
“We are looking at the next three to six months to finalise all the necessary arrangements. We needed a company that could help increase our production and contribute to Ghana’s development,” he said.
He added that extensive efforts were made to identify a suitable international partner before reaching an agreement with Kingmamo.
The partnership comes at a time when Ghana is seeking to maximise value from its mineral resources, strengthen local participation in mining and improve returns from state-owned commercial assets.
While the agreement marks an important milestone, stakeholders say its success will ultimately depend on effective implementation, technology transfer, operational efficiency and transparent management.
For Prestea Sankofa, the challenge now is to convert the partnership into measurable gains in production, profitability and long-term value creation.
If successful, the project could become a model for the revitalisation of other state-linked mining assets and reinforce Ghana’s efforts to build a more productive and competitive mining sector.
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