Prestea Sankofa Gold Limited is a subsidiary gold mine of GNPC, which was incorporated in 1994 as a joint venture between SAMAX Gold Resource and GNPC.  The company, as the name implies in Ghanaian parlance “Sankofa” – go back for it, was set out to extract gold from tailings and low grade “waste” from over 100 years of mining activities in Prestea.  The technology has attracted a lot of interest in the industry.  The company is currently doing well.

In 1998, SAMAX ceded its interest to GNPC. As a result of this, GNPC now owns 90% of the shares in the company with Government of Ghana taking the remaining 10%.

GNPC is evaluating the potential of the company with the aim of selling it out.  This is in response to Government desire to see GNPC focus on petroleum exploration and production activities only.