Home ECONOMY Ghana Reopens Idle Obuasi Gold Mines

Ghana Reopens Idle Obuasi Gold Mines

by biasharadigest

Ghana, through its government and the AngloGold Ashanti Limited, has reopened its Obuasi gold mines, after lying idle since 2016.

According to AngloGold Ashanti Limited, the first phase of the project involves revamping the mines, including construction, refurbishment, electrical work and underground mining.

We had a vision of a modern mining operation based not only on the best technology and planning available, but one based on deep partnerships with stakeholders at a national and local level. From the outset of this journey – to invest in a new future for this great ore body – we’ve received exceptional support from so many stakeholders, particularly the Government of Ghana.

AngloGold Ashanti CEO, Kelvin Dushnisky

Additionally, AngloGold Ashanti has committed a capital investment of $495 million to $545 million in the Obuasi mines.

Furthermore, as Bloomberg reports, Obuasi gold mines will add as much as 400,000 ounces or more per year to Ghana’s output, almost a 10th of what it produced in 2018 when it overtook South Africa as the continent’s biggest gold producer.

AngloGold Ashanti is an independent, global mining company with operations and projects in four continents. It is the third-largest gold mining company in the world, measured by production. Furthermore, the company is listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses.

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