RemSleep Holdings Inc (RMSL)

[AbrahamS]

People wonder WHY Ashanti quit mining the Bibiani

I DO NOT WONDER

"On June 11, 1897, Cade listed the Ashanti Goldfields Corporation Ltd. on the London Stock Exchange and set up operations at Obuasi on December 24 of that same year. The technique of adit mining--wherein a horizontal passage is dug from the earth's surface into the mine--proscribed by mining engineer John Daw tapped into the most immediately accessible ore in the hills around Obuasi and yielded initially impressive results. The Obuasi mine yielded 2,544 ounces of gold in its first year of operation and 4,673 ounces the second year. This early success, coupled with the devastation of the South African gold trade during the Boer War (1899-1902), fed Ashanti's rapid growth that continued until the uprising of the Ashanti people against British rule in 1900.
The impact of the anti-colonial conflict on Ashanti was devastating. Work was halted, mines became run-down and collapsed due to lack of upkeep. However, the good relations maintained by Daw and Cade with their local employees ensured the safety of the European staff during the hostilities. After the end of the conflict--despite the arrival of the railway line--Ashanti continued to suffer. Output did not return to previous levels, leading to shareholder skepticism over Daw's mining techniques. Edwin Cade died in 1903, leading to a further devaluation of shares. In 1905, an independent assessment of Ashanti operations was carried out by chemist W.R. Feldtmann and mining engineer J.A. MacTear. They criticized Daw's adit mining approach, declaring that the easily reachable ore was nearly exhausted, and that the hills around Obuasi did not contain the rich reefs (veins of ore) once believed. Daw resigned in 1906, and Feldtmann took over as consulting engineer."


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