Ghana: Obuasi gold mine to be redeveloped

Jersey-registered Randgold Resources and Johannesburg-based AngloGold Ashanti have concluded an investment agreement aimed at forming a joint venture to redevelop and operate AngloGold’s idled Obuasi gold mine. Randgold will lead and fund a development plan designed to rebuild Obuasi as a viable business. AngloGold reduced operations at the mine at the end of 2014, ceasing underground production and retrenching the workforce, but continuing to process tailings and starting a feasibility study on redeveloping the mine. The development plan will build on this feasibility study with the intention of establishing a more efficient, mechanised high-grade operation, and is expected to take about four months to complete.