AngloGold Ashanti stays on course for first gold end 2019

Anglogold Ashanti says operations at its Obuasi mine is on schedule and first gold remains on track for end of 2019.

The two-phase development will see production of 2,000 tonnes per day by end 2019 and 4,000 tonnes per day in 2020.

Mr Jasper Musadaidzwa, the Senior Vice-President, AngloGold Ashanti for the Continental Africa Region, who announced this, said design and procurement were in progress while the demolition of redundant plant was close to completion.

Mr Musadaidzwa, who was speaking to the media at the 2019 Ghana Mining and Energy Summit in Accra, said refurbishment for Phase one of the project had commenced and the Mining contractor was mobilised while ongoing portfolio improvements through investment and rationalization were on course.

He said the company’s focus and drive was to deliver value-adding growth over the long term for stakeholders.

Obuasi is said to have reserves of 5.8 million ounces and will operate at costs lower than AngloGold’s current average.

Annual gold output will average between 350,000 ounces and 450,000 ounces during the first ten years.

Mr Musadaidzwa, who is also the outgoing Managing Director of AngloGold Ashanti Iduapriem Limited, said the Iduapriem mine had made very strong contributions to the Ghanaian economy, contributing to job creation in Ghana’s gold industry, generating income for households, both directly and indirectly.

The company is also ready to ramp up production over the record 253,000 ounces achieved at the mine in 2018 on the back of continuous improvement and operational excellence.

The mine, he said, had plans to increase production to above 273,000 ounces for the 2019 financial year.

On local content Mr Musadaidzwa said AngloGold Ashanti was going beyond compliance with legislation with more of 67 per cent of procurement contracts going to Ghanaian local contractors.In the same vein 13 per cent and 20 per cent of the contracts were to local multinationals and foreign contractors respectively.“For instance, the mining contract awarded to Joint Venture between Ghana’s Rocksure International (30 per cent) and Australia’s African Underground Mining Services (70 per cent). This will help facilitate the transfer of underground mining expertise to Accra-based Rocksure, develop mechanised underground mining capability, while retaining value in-country,” he said.Ghanaians are also playing major roles in water treatment, laboratory services, fuel, drilling contract and explosives, adding that “the move is to ensure we create and retain value in Ghana over the long term”.Currently, there are 630 employees and 1,156 contractor employees as at December 2018. The company has […]

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