AngloGold Ashanti Limited
AngloGold Ashanti Limited
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
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.
Widespread flood-generated power cuts are shutting down mining operations across South Africa
Analyst flags Dec 2019 qtr Australian gold output rise after Sept qtr fall as local gold mine control doubles to 60% from 2002
A minesite invasion by local community members has forced AngloGold Ashanti to suspend mining operations at its 85%-owned Siguiri openpit oxide gold mine in Guinea.
The protest by members of the Fatoyah community on Friday was sparked by a dispute over a road.
Company spokesman Stewart Bailey told Reuters talks were being held with community leader seeking to resolve the dispute.
Siguiri, about 850km N of Conakry, produced 242,000oz gold in 2018.
West Australian company Matsa Resources has completed the first full quarter of mining at its 100%-owned Red October gold project, delivering 10,903t @ 5.39g/t to the Sunrise Dam treatment plant in the Sept qtr (Q1FY20) under its ore purchase and processing agreement with AngloGold Ashanti.
Ore production is expected to increase significantly with the commencement of stoping in the coming quarter.
International gold miner AngloGold Ashanti has lifted Sept 2019 qtr (Q3 19) gold production 3% on Q2 19 to 825,000oz and free cash flow 12% thanks to higher gold prices, and says its Obuasi underground gold project in Ghana will start by year-end, Reuters reports.
Gross profit jumped 52% from the same qtr last year to $US281M.
Things are looking good for Anglo Gold Ashanti with Q3 19 gold production up 3% and increased Q4 19 production expected from its Tanzania, Guinea, Australia and Brazilian operations