AngloGold Ashanti Limited
AngloGold Ashanti Limited
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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.
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.