AngloGold Ashanti Limited
AngloGold Ashanti Limited
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AngloGold has finalised 3-year wage agreements with the unions representing most of its South African employees.
The global major says the deals improves pay particularly for its entry-level workers as well as providing certainty, and includes new shift arrangements to improve productivity and safety.
Agreements have been signed with the Association of Mining and Construction Union (representing 48.9% of the workforce), Solidarity (3.7%) and UASA (9.4%).
West Australian company Matsa Resources has commenced mining at its 100%-owned Red Dog gold mine, a 26,300oz (368,000t @ 2.2g/t) 25km west of its Fortitude gold project near Laverton.
The development of the mine benefits from the ability to utilise the existing mine infrastructure at Fortitude and the camp and accommodation facilities at the Red October mine, 20km to the north.
Under an ore purchase agreement with AngloGold Ashanti Australia, all Red Dog ore will be treated at its Sunrise Dam gold mine.
Global hard-rock underground mining services provider Barminco has won a 5-year, $A700M contract extension at AngloGold Ashanti’s producing Sunrise Dam gold project in Western Australia.
The deal extends Barminco’s association with AngloGold Ashanti at Sunrise Dam that goes back to the commencement of underground operations in 2003, when the first portal was cut, with plans now in place to increase annual production well beyond the current 3Mtpa.
New study dismisses nay sayers big gold production drop predictions on Aussie FY18 gold production up 12t on FY17.
Outgoing AngloGold Ashanti CEO Srinivasan Venkatakrishnan has delivered a strong production and cost performance in the final interim result before he makes way for former Barrick Gold president Kelvin Dukshinsky next month.
International major AngloGold Ashanti says it’s on track for the top end of its 3.33-3.45Moz full year target after producing 1.63Moz gold for the June half (H1FY2017: 1.75Moz). Production from retained operations, excluding its Moab Khotsong, Kopanang and TauTona mines, was 1.58Moz (1.52Moz) at AISC of $US1,005/oz ($1,030/oz).
Attributable profit was $33M (loss of $176M) and adjusted EBITDA was $723M ($610M) on revenue of $1.9B ($2.0B). Free cash outflow was $51M ($161M).
Net debt improved to $1.79B ($2.15B).
Gruyere gold project developer Gold Road has recruited senior AngloGold Ashanti manager Duncan Gibbs as MD-CEO following the resignation of Ian Murray.
Gibbs has led AngloGold’s Sunrise Dam and Tropicana mines in Western Australia. Gold Road says his role through development to steady-state production at Tropicana parallels the situation at Gruyere, its 50-50 JV with Gold Fields.
Murray will step down mid-Sept after leading Gold Road’s 10-year transformation from explorer to the brink of mine production.
After spending about $US9M exploring the greenfields concessions near Equinox Gold’s near-production Aurizona Gold Mine in Brazil, AngloGold Ashanti has decided to walk away.
Equinox says Anglo has completed more than 43,000 line-kilometres of high-resolution aeromagnetic, radiometric and electromagnetic surveying, 10,000m of drilling on 8 targets, and extensive soil geochemistry and geologic mapping surveys over the entire 1,800km2 property since Aug 2016.
The rightly much lauded Nova Nickel Project in Western Australian has stamped its authority on Independence, lifting FY18 profit $36M to $53M. Mark Mentiplay reports
Barrick Gold president Kelvin Dushnisky has been named CEO and executive director of South African-based international major AngloGold Ashanti, ending a 16-year career with the world's No 1 gold producer.
Dushnisky has been recruited via a global talent search to replace Srinivasan Venkatakrishnan, who leaves AngloGold at the end of August to join Vedanta Resources.