AngloGold Ashanti Limited
AngloGold Ashanti Limited
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The decision by AngloGold Ashanti and its new 30% JV partner Regis Resources in Western Australia’s Tropicana gold mine to proceed with a final cutback to mine deeper ore in the Havana pit will translate into a $A470M revenue boost for contractor Macmahon.
The cutback, to extend the life of the openpit mine by four years from 2023 to 2027, will add 155Mt to the material to be mined from 2024.
AngloGold Ashanti has slashed its production guidance for the year to Dec 2021 due to the suspension of its Obuasi mine in Ghana following a fatal ground fall, with the international gold major now factoring in zero production for the rest of the year.
The acquisition of a 30% stake in the Tropicana project promises a material step-up in scale for Australian miner Regis Resources after posting gold production of 372,870oz at AISC of $A1,373/oz for the June year (FY21), up from 352,042oz at $1,246/oz in the previous year.
The result included two months’ contribution of 17,317oz at $2,121/oz for its share of production from AngloGold Ashanti’s 70%-owned Tropicana mine and a strong 355,553oz from its Duketon Operations.
Specialist contractor African Mining Services will extend its involvement with AngloGold Ashanti’s 275,000ozpa Iduapriem openpit gold mine in western Ghana for a further 5 years following the award of a new $US470M contract to its newly established AMAX JV with leading local company Maxmass.
Its 60% share of the contract will add over $280M to the work in hand for AMS, which has been active at Iduapriem since 2012.
Mali’s Morila mine, once one of the world’s highest grade gold producers for majors Barrick Gold and AngloGold Ashanti, has passed a significant operation milestone with the successful first production blast for new owner Firefinch by contractor EGTF.
Gold major AngloGold Ashanti has made a $US370M, $C4.00ps cash takeover bid for the 80% of shares it does not already own in Canadian miner Corvus Gold and its North Bullfrog, Mother Lode and other exploration assets located in southern Nevada, US.
These assets are close to, or contiguous with, AngloGold’s exploration assets of Silicon, Transvaal and Rhyolite.
Global major AngloGold Ashanti has selected former Orica chief executive and past BHP senior executive Alberto Calderon as its new CEO following a comprehensive year-long search that began with the mid-2020 resignation of former leader Kelvin Dushnisky.
Calderon will replace interim CEO Christine Ramon, who will revert to her role as chief financial officer.
Gold miner AngloGold Ashanti says the body of a mineworker who went missing after a ground collapse at its Ghanaian Obuasi mine has been found, Reuters reports.
The company said the body of the mineworker was discovered by rescue teams on Saturday after suspected pillar failure on May 18. AngloGold, which has suspended its annual production/cost guidance for the mine, says underground mining operations will remain suspended until it is declared safe to resume.
Regis Resources has completed its $A903M cash acquisition ($889M after adjustments) of 30% of AngloGold Ashanti’s 400,000oz-plus gold Tropicana project, 330km ENE of Kalgoorlie in Western Australia, from IGO.
The acquisition of one of Australia’s 5 largest producing gold mines was funded by a $650M equity raising and a $300M, 3-year loan facility from the Bank of America. AngloGold decided not to exercise its pre-emptive right over Tropicana.
Mine rescue teams are working in difficult geotechnical conditions to search for a missing worker following a fall of ground on Tuesday morning in one of the mining stopes at AngloGold Ashanti’s Obuasi gold mine in Ghana.
All mining activity has been suspended and authorities notified.
Contractor Perenti Global confirmed the missing person is an employee of African Underground Mining Services, its 70%-30% JV with Ghanaian contracting company Rocksure.