Views Article – Sharenet Wealth

Africa, News

AngloGold aims to produce 350,000–400,000 oz of gold a year from Ghana mine

(In Dec. 19 story, corrects paragraph 3 after company clarified mining rate refers to gold bearing ore, not gold)

Dec 19 (Reuters) – AngloGold Ashanti said it expects its Obuasi gold mine in Ghana to produce about 350,000 to 400,000 ounces per year for the first ten years, after achieving its first gold pour since it was suspended five years ago.

The initial capital expenditure for the mine, which has been in the process of redevelopment since last year, remains in the range of $495 million to $545 million, the company said on Thursday.

Following a ramp up period, the company estimates a mining rate of 2,000 tons of gold bearing ore per day from Obuasi during 2020, climbing to 4,000 tons per day by year end. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Edmund Blair and David Evans)

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