AngloGold Ashanti Limited
AngloGold Ashanti Limited
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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.
Independence Gold says its Nova nickel-copper mine in Western Australia is now 'fully ramped-up' despite technical issues that cost it around 10% of production in the June quarter. John Feary reports
International gold miner AngloGold Ashanti predicts a 25% production increase to about 300,000oz at its Sunrise Dam mine in Western Australia in FY2018 from the combination of a $US28M recovery enhancement project and transition to the high-grade Vogue underground orebody.
AngloGold's senior vice president for Australia, Mike Erickson, predicts Sunrise Dam will sustain production of 300,000-350,000oz at AISC of around $900/oz in coming years.
AngloGold Ashanti sees its 21-year-old Sunrise Dam becoming a cornerstone asset with completion of a recovery enhancement project and the transition to a large high-grade ore source sustaining increased production and lower costs.
The award of permits by Ghana’s Environmental Protection Agency for the Obuasi gold mine redevelopment and its associated tailings and water infrastructure keeps AngloGold Ashanti on track for a Sept 2019 resumption of operations.
The environmental approvals follow last week's parliamentary ratification of Obuasi's regulatory and fiscal agreements.
Latest contract wins for Australian contractor MACA have lifted FY2019 work-in-hand to $A1.05B.
The new contract wins/variations include a $12M variation to the bulk earthworks contract with the Gruyere Gold J/V through to Oct 2018, evaporating ponds construction for Western Areas’ Cosmos Nickel Project worth $5M-$6M and a $6M secondary mill upgrade contract from Anglo Gold Ashanti at the Tropicana Gold Project, all in Western Australia.
Ghana government ratification of new regulatory and fiscal agreements are helping clear the way for the redevelopment of the Obuasi gold project as a modern, mechanised mine.
Plans by AngloGold Ashanti to revive its Obuasi gold mine in Ghana can move ahead after parliament ratified new regulatory and fiscal agreements over the mothballed high-grade, long-life deposit.
AngloGold is continuing a $US31M FEED and preparatory work program announced in Feb 2018 to transform Obuasi into a modern, productive operation.
CEO Srinivasan Venkatakrishnan says the redevelopment can support at least 20 years of production at very competitive costs.
(SOVEREIGN RISK) International miners set to assess legal action after DR Congo ignores their opposition to implement a hotly contested new mining code.