ASante Gold (CSE: ASE) announced on Wednesday that it plans to raise $525 million in two stages to fund its growth plans in Ghana, where it operates the Bibiani and Chirano gold mines and advances the Kubi gold project.

The first stage will include the recently announced $100 million private equity placement by Asante, as well as an approximately $100 million refinancing with Kinross Gold (TSX:K), a $75 million bond funded by Ghanaian investors, and a $50 million syndicated gold flow facility.

Canadian-based gold producer Asante Gold recently announced a $525 million fundraiser to increase production in Ghana. To succeed in this operation, the company plans to solicit local investors through the issuance of bonds denominated in Ghanaian cedis and aimed at mobilizing 75

This transaction, intended in particular for pension funds in the country, is in line with the government's strategy to maximize the economic benefits of local gold mining.