AngloGold Ashanti (AGA) is to spend approximately US$200 million as investment capital next year to revamp the Obuasi mine, which has more than 20 years life of mine with nine million ounces of gold reserves, Mr. Peter Anderton, Senior Vice President, AGA (Ghana) has revealed.
“Obuasi production marginally declines on lower grades and underground-equipment availability, costs remain in control. Obuasi remains the key outstanding issue from 2011.
“Once the leading gold mine in the country, it is a high cost producer and has never produced beyond 400,000 ounces, since the merger between the former AngloGold of South Africa and Ashanti Goldfields Company of Ghana.”
This was made known during the Company’s Stakeholder Town Hall meeting held in Accra. It was attended by its social and business partners, members of the diplomatic community, banks and financial institutions, chiefs and people in the host communities and government representatives.
Mr. Anderton revealed that a high level special taskforce ‘The Obuasi Taskforce’ has been formed for a twelve month period to fast track additional corporate funding and external resources to support define the long term turnaround strategy for the Obuasi underground operation, which has been struggling in the past years.
The objective is to accelerate the refurbishment and improve operational stability at Obuasi mine.
The taskforce was also looking to ensure that the work done today links to the long term strategy for Obuasi and that the outcomes of this work provided sustainable outcomes for AGA’s Ghanaian stakeholders.
The work of the taskforce has now largely been handed over to the AGA Ghana which has been expanded to ensure the delivery of ounces today but also to invest and create a world class operation at Obuasi.
AGA Obuasi will be supported from corporate funding as put in place by the Taskforce and additional expertise where required from AGA Corporate.
He said AngloGold Ashanti gold production was 4.52 million ounces last year of which about 11% came from the Obuasi and Iduapriem mines, though Obuasi was challenged by restricted ore passes and unplanned plant shut down for maintenance of tailing dam facility.
The Ghana mines produced just over 502,000 ounces, of which Obuasi churned out 317, 000 ounces and Iduapriem producing 185,000 ounces.
Ghana accounts for 33% of Continental Africa Gold production but only contributes 13% of the region’s cash flow.
Kwesi Enyan, Managing Director of Obuasi, explained that efforts been made to tackle the company’s social and environmental problems head-on.
He indicated that the project to resettle the Dokyiwa community was at advanced stage and efforts were also been made to tackle poor roads at Sansu and Anyinam villages this year, in partnership with the municipal assembly.
“The 116 housing units and all other infrastructural facilities completed at the New Dokyiwa site. Keys to new houses being given to landlords Relief package lined up for re-settlers.
Movement of people from old village to new site envisaged to be completed by end of this year.
“AGA is consistently demonstrating itself to be a responsible corporate citizen, in Ghana and around the world. AGA will engage to an even greater extent to ensure that all its stakeholders are fully aware of the real positive contributions to the communities and the country,” Enyan said.
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