TORONTO, April 20, 2021 /CNW/ - Golden Star
Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE:
GSR) ("Golden Star" or the "Company") is pleased to announce
that its wholly-owned non-profit subsidiary, Golden Star Oil Palm
Plantations Limited ("GSOPP") and RGLD Gold AG, a
wholly-owned subsidiary of Royal Gold, Inc. ("Royal Gold"), have
entered into an agreement providing for Royal Gold's investment in
the oil palm plantations initiative, Golden
Star's award winning flagship sustainability project.
In consideration of the long-standing relationship with the
Wassa mine, and by extension the Wassa operations host communities,
Royal Gold has committed to provide financial support for the
activities of GSOPP that benefit the Wassa operational communities
through an annual contribution of $150,000 during five years. The investment will
be used to accelerate development of the Company's innovative
sustainability initiative which is aimed at creating sustainable
alternative livelihoods, bringing additional economic stimulation
and a legacy of community development to the region. The proceeds
will support the further development of palm oil plantations around
Wassa as well as activities to grow GSOPP including assessment of
downstream processing opportunities.
About GSOPP
GSOPP is the Company's flagship
sustainability and social enterprise initiative. It develops and
operates oil palm plantations in communities proximate to the
Company's gold mining operations, located in the Western Region of
Ghana, for the benefit of members
of the host communities. The program commits to ensuring that there
is zero deforestation during the creation of a high value
agribusiness on former subsistence farms and land that has
previously been used for mining activities. Since its inception in
2006, GSOPP has developed plantations on over 1,500 hectares of
land, which support over 700 families at levels of yield
three-times the small holder average in Ghana. The activities of GSOPP also align with
the Company's wider sustainability goals of establishing high value
post-mining land uses, self-funding revegetation and creation of
biomass to act as a carbon sink to offset operational
emissions.
Andrew Wray, Chief Executive
Officer of Golden Star,
commented:
"We welcome Royal Gold's commitment to invest in
GSOPP at Wassa. This partnership will enable the acceleration of
the growth of GSOPP bringing additional benefit to the communities
neighbouring our Wassa operations. The considerable scale of the
Wassa resource gives potential for a significant mine life, and the
Royal Gold commitment allows Golden
Star and GSOPP to bring an even stronger legacy of
sustainable alternative livelihood development for lasting positive
impact in our host communities."
Bill Heissenbuttel, President
and Chief Executive Officer of Royal Gold, commented:
"Royal
Gold strongly believes in the importance of sustainability in the
mining industry, and GSOPP is an innovative example of sustainable
community development. Royal Gold is pleased to have the
opportunity to enter into this contribution agreement to further
advance this award-winning initiative."
Company Profile:
Golden
Star is an established gold mining company that owns and
operates the Wassa underground mine in the Western Region of
Ghana, West Africa. Listed on the NYSE American, the
Toronto Stock Exchange and the Ghanaian Stock Exchange,
Golden Star is focused on delivering
strong margins and free cash flow from the Wassa mine. As the
winner of the Prospectors & Developers Association of
Canada 2018 Environmental and
Social Responsibility Award, Golden
Star remains committed to leaving a positive and sustainable
legacy in its areas of operation.
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SOURCE Golden Star Resources Ltd.