AngloGold Ashanti Limited
AngloGold Ashanti Limited
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Western Australia-based Firefinch has exceeded guidance with 4,228oz of gold produced in Dec 2020 from processing tailings at the Morila gold openpit mine in SW Mali, taking its total to 7,683oz since the company acquired 80% of the mothballed mine from Barrick Gold and AngloGold Ashanti for $US29M on Nov 11, 2020.
The previous prediction was 4,000oz-4,100oz. Firefinch has also reaffirmed a production target of 10,000oz-10,500oz for the Mar 2021 qtr (Q1 21).
International miner AngloGold Ashanti is forecasting its strongest free cash-flow generation in almost a decade for FY2020 after making significant progress on its strategy to be a leading global gold mine with 10 producing assets across a geographically diverse portfolio.
After withdrawing its initial guidance in March due to COVID-19 uncertainty, the company says it’s on-track to meet its revised guidance of 3.03-3.1Moz gold at AISC of $US1,060-1,120/oz. It will be the eighth consecutive year of meeting guidance.
Australia-based Firefinch, formerly Mali Lithium, has poured 1st gold at its 80%-owned Morila Gold Mine in SW Mali under the company’s ownership, and is expected to notch up an above estimate 4,000oz-4,100oz in the month of November at all-in-costs of about $US1,000oz-$1,100oz.
Morila, acquired from Barrick Gold and AngloGold Ashanti for $29M in Nov 2020, has measured-indicated-inferred resources of 1.49Moz within 39.3Mt @ 1.17g/t), with excellent potential to increase that.
New 80% owner Firefinch has lifted total measured, indicated and inferred gold resources to 1.49Moz (39.3Mt @ 1.17g/t) as its consulting mining engineers begin mine design and scheduling for the rejuvenation of the Morila project in SW Mali, acquired from Barrick Gold and AngloGold Ashanti for $US29M in Nov 2020.
West Australian mining and construction contractor DDB has been named preferred supplier of drilling services for the Golden Delicious gold project at international miner AngloGold Ashanti’s Sunrise Dam operation in the Eastern Goldfields.
The contract awarded by AngloGold’s long-term mining services company Carey Mining is expected to see DDB commence operations at Golden Delicious from late-Dec and continue for about 24 months.
Global miner AngloGold Ashanti has suspended its 92.5%-owned Cerro Vanguardia gold mine in Argentina for 10 days after detecting an undisclosed number of COVID-19 cases among the workforce.
While operations are expected to resume on Nov 20, AngloGold will allow only essential movements to and from the site for a further 10 days.
AngloGold says essential activities will continue while the Santa Cruz mine site is fully sanitised in coordination with health and labour authorities.
Colombian-focused explorer Los Cerros has moved to 100% ownership of the Quinchia project in the Mid-Cauca copper-gold porphyry belt after formalising its acquisition of the remaining 49% of AngloGold Ashanti’s interest in the Chuscal JV.
Quinchia, which also includes the Miraflores, Tesorito and Dosquebradas deposits as well as Chuscal, holds JORC-compliant measured and indicated resources of 840,000oz and reserves of 547,000oz.
Six months after COVID-19 disruptions drove it to withdraw its FY2020 gold production guidance, AngloGold Ashanti says improved operating certainty and near-completion of the sale of its South African assets have enabled it to announce new targets for the year.
Interim CEO Christine Ramon says the return of guidance reflects the company’s greater certainty following the success of its operators to limit the pandemic’s impact on production and costs while prioritising the health of employees and host communities.
AngloGold Ashanti has declared commercial production at the Boston Shaker underground mine three months after firing the first production stope, and is now ramping up towards its 1.1Mtpa design production rate expected to be reached by March 2021.
The first underground operation at AngloGold’s 70%-owned Tropicana JV with IGO is forecast to deliver 100,000ozpa gold over seven years from a 317,000oz (2.8Mt @ 3.84g/t) ore reserve, with significant potential to increase at depth.
Harmony Gold Mining is on track to become South Africa’s largest gold producer after concluding its $US300M deal to acquire the Mponeng mine and Mine Waste Solutions business from AngloGold Ashanti.
The deal is expected to close on Sept 30, with Harmony taking full ownership and operation of Mponeng, MWS and AngloGold’s other South African assets and liabilities from Oct 1.