AngloGold Ashanti Limited
AngloGold Ashanti Limited
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AngloGold Ashanti confirmed its South African operations - including the Mponeng mine, Mine Waste Solutions and surface rock-dump processing sites – will go to care & maintenance from midnight on March 26 under the nationwide COVID-19 lockdown ordered by President Cyril Ramaphosa.
The lockdown is scheduled to last for 3 weeks. AngloGold is working on plans aimed at regaining lost production once operations resume.
Country-wide restrictions on travel and border closings have resulted in the suspension of mining activities until the end of March of operations at AngloGold Ashanti’s 92.5%-owned Cerro Vanguardia mine in Santa Cruz province, Argentina.
AngloGold’s only Argentinian mine produced 219,000oz gold at AISC of $US859/oz in FY2019 and is scheduled to account for 6% of FY2020 output.
Rescuers have located the bodies of three miners killed in a rockfall about 3.5km below the surface that followed a magnitude 2 earth tremor at AngloGold Ashanti’s Mponeng gold mine 75km SW of Johannesburg in South Africa.
Four other miners were rescued with non life-threatening injuries after the fall of ground on Thursday.
Higher gold prices and improved efficiencies have helped international major AngloGold Ashanti meet guidance on key operating metrics for the seventh straight year and nearly double free cashflow to $US127M in FY2019.
South African miner Harmony Gold sees potential to improve overall recovered grades and cashflow margins in its $US300M to acquire the Mponeng underground gold mine, Mine Waste Solutions retreatment business and surface rock dumps processing business from AngloGold Ashanti.
CEO Peter Steenkamp says the acquisition adds about 350,000oz to Harmony’s annual gold production and expands its South African reserves by 8.27Moz while improving its portfolio balance between underground and surface operations.
South African-based global miner AngloGold Ashanti has completed the divestment of its homeland assets with agreement on a cash and deferred payments transaction worth about $US300M with Harmony Gold Mining.
The sale includes the Mponeng project in the West Wits mining district, the world’s deepest operating gold mine, its Mine Waste Solutions retreatment business and a business processing surface rock dumps.
South African miner Sibanye-Stillwater doubts if its undisclosed offer for AngloGold Ashanti’s Mponeng mine, the world’s deepest gold mine, will succeed, Reuters reports.
AngloGold is selling the asset, its last operation in South Africa, as it pursues higher returns elsewhere. Harmony Gold has also expressed an interest.
The scheduled mining of lower grade areas in the coming 6 months is expected to leave the AngloGold Ashanti-IGO JV’s Tropicana gold mine in Western Australia below the 475,000oz mid-point of FY20 guidance.
IGO posted Dec qtr (Q2) Tropicana production of 133,932oz at AISC of $A948/oz, compared to 123,320oz at $1,066/oz in the previous quarter.
The Australian miner’s 100% owned Nova nickel-copper-cobalt mine delivered 7,513t Ni (Q1: 7,724t) and 3,289t Cu (3,490t) at cash costs of $2.42/lb Ni ($2.59/lb).
Gold miners IAMGOLD and AngloGold Ashanti (AGA) are selling their collective 82% stake in Société d’Exploitation des Mines d’Or de Sadiola (SEMOS) and its producing Sadiola Sulphides Gold Project in Mali to Allied Gold for $US105M cash.
AngloGold Ashanti expects its Obuasi Gold Mine in Ghana to produce about 350,000oz-400,000oz pa for the 1st 10-years, after its 1st gold pour since it was suspended 5-years ago.
The initial capex for the mine, which has been in the process of redevelopment since last year, remains at $US495M-$545M. The company estimates that following a ramp-up period, it expects a rate of 2,000tpd during 2020, climbing to 4,000tpd by year-end.