Ghana's Obuasi Gold Mine to Be Redeveloped

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Home Construction & Mining Quarrying Ghana’s Obuasi gold mine to be redeveloped Ghana’s Obuasi gold mine to be redeveloped

Created: Tuesday, 22 September 2015 04:47 USA-based Randgold Resources Limit ed and Sout h Africa’s AngloGold Ashant i Limit ed have have decided t o form a joint vent ure t o redevelop and operat e AngloGold Ashant i’s Obuasi gold mine in Ghana The two companies signed an investment agreement to forge a JV that would operate the Ghanaian gold mine. According to the agreement, Randgold will lead and fund a development plan which will aim to rebuild Obuasi as a long-life mining business with an attractive cost structure and returns. The Obuasi gold mine will be enabled with ramp Randgold chief executive Mark Bristow said, “Obuasi is access for better transportation of materials and workers. (Image source: a world-class resource. We now have to see if we can Calistemon/WikimediaCommons) convert it into a world-class mine. We have a long history of cooperation with AngloGold Ashanti and look forward to working with them again on charting a new course towards a viable future for Obuasi.” The gold mine is situated in the Ashanti region of Ghana, around 230 km northwest of Accra. Its a high- grade deposit with proven and probable ore reserves of 24.53Mt at 6.70g/t for 5.29Moz, according to AngloGold Ashanti. In 2012, AngloGold Ashanti initiated a programme to modernise the mine, mainly by developing ramp access that would ultimately run from surface to high-grade blocks of ore underground. The ramp was designed to support the current vertical infrastructure, and aid with reducing the congestion in underground operations by enabling greater ease in transporting people and materials from ore to surface. However, in 2014, the mine was converted to limited operations and underground production ceased. Despite this, AngloGold Ashanti continued process tailings and initiated a feasibility study on mine redevelopment, revealed the company. The new development plan is expected to create a more focused and eﬃcient mine operation, which would take about four months to complete. Randgold and AngloGold Ashanti will be jointly responsible for funding the redevelopment of Obuasi in line with the agreed development plan.

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Ghana’s Obuasi gold Zambia Revenue New drill zones identiﬁed Rwanda to explore 10 Mining partnership hailed mine to be redeveloped Authority likely to begin in gold mine at Côte d’… mining concessions by British High Commissi site insp… …

USA-based Randgold Resources Canadian company Endeavour Rwanda has signed mining USA-based Randgold Resources Canadian company Endeavour Rwanda has signed mining Limited and South Africa’s Mining companies in Zambia have Mining Corporation has found new contracts with six mining The British High Commissioner AngloGold Ashanti Limited have requested the Zambia Revenue zones to drill in the Agbaou Gold companies to exploit 10 mining James Thornton has commended have decided to form a joint Authority (ZRA) to consider Mine located in Côte d’Ivoire concessions that could the partnership between the venture to redevelop and conducting regular visits to potentially bring about profits to government of Zambia and the operate AngloGold Ashanti’s mining sites in a bid to improve the tune of US$45mn over the British gemstone exploration and Obuasi gold mine in Ghana tax collection next five years mining company Gemfields plc, citing it to be a “very good example” of a British company investing in Zambia

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