AngloGold Ashanti Limited
AngloGold Ashanti Limited
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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.
AngloGold Ashanti’s $US300M sale of its remaining South African assets to Harmony Gold is on track to close on the agreed Sept 30 date after the Department of Mineral Resources unconditionally approved the transfer of its West Wits mineral rights.
Harmony will pay $200M cash on completion, with contingent payments on future production.
West Australian miner IGO, the original discoverer of AngloGold Ashanti’s Tropicana gold mine, has floated the option of selling out of its 30% JV interest to focus on commodities relevant to clean energy.
After receiving unsolicited approaches from a number of parties, IGO has launched a strategic review of its holding that will involve detailed technical analysis of opportunities to enhance value through underground development and exploration.
Western Australian explorer/developer Mali Lithium is raising up to $A70M to acquire 80% of the operational, 8.7Moz resource Morila Gold Mine in SW Mali.
The company has binding commitments for $64M via a placement at $0.16cps and another $6M from a share purchase plan to buy the respective 40% ownership stakes held by international majors Barrick Gold and AngloGold Ashanti.