Ghana: Randgold Resources ends JV with AgloGold on Obuasi gold project
Monday, 21 December 2015 15:15
Randgold Resources Ltd, gold company listed in London and New-York, ended joint-venture with AngloGold Ashanti Ltd regarding redevelopment of Obuasi gold mine in Ghana.
The dual-listed mining company announced on December 21, it has decided to end with immediate effect, its investment agreement with AngloGold saying proposed investment did not meet its investment criteria.
The decision followed concerted efforts from both companies, the evaluation of opportunities the mine offered and works to revise plans for redevelopment.
According to the previously reached agreement, Randgold was to finance redevelopment of Obuasi mine. It was revealed a few months ago that this would have allowed for re-establishing the mine as a long-term project with interesting returns on investment
The Obuasi mine is located in the Ashanti region, 320km North-West of Accra, and would contain 24.53Mt of probable and proved resources at 6.7 grams gold per ton.
Live News
-
Togo Lawmakers Approve Green Reform Bill Introducing Carbon Tax
20:02
-
Two Agriculture Projects Launch to Strengthen Climate Resilience in Northern Cameroon
19:41
-
Cameroon Weighs Co-Financing Plan to Link Youth Plantain Farmers to Markets and Financial Access
19:38
-
Nigeria’s Port Traffic Rises 24.8% in 2025, Lekki Port Handles 40.6% of Cargo
19:28
-
Meriam Bessa Uses AI to Restructure Influencer Marketing in Morocco
04:40
-
Orange Business Partners With Dakar Port to Advance Smart Port Strategy
04:37
-
Smart Africa, MeetKai Launch Sovereign AI Infrastructure Pilot in Five African Countries
04:24
-
Telemedicine Startup Kénèya Koura Seeks to Modernize Mali’s Healthcare System
04:18
-
Togo raises 22 bln CFA francs on regional debt market
17:16
-
Luxembourg, through LuxDev, to finance higher education projects in Togo
13:26
Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
Togo lawmakers approve bill updating 2008 environmental framework law Reform introduces green economy, circular economy, and carbon tax Measure aims...
Germany funds €4m agriculture, soil health projects in northern Cameroon RESEAU and Soil Matters aim to boost climate resilience Projects promote...
Cameroon considers programme incubating 20 youth in plantain agribusiness Initiative links plantations to markets, financing, and banking...
East Africa processed 38,500 tons of cashews in 2025, up 5% Tanzania led growth, processing 20,000 tons, 52% regional share Processing capacity...
African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year. Women artists accounted for about $22...
In April 2026, the Amani Festival will change venues. Forced to leave Goma for Lubumbashi due to growing insecurity, the event turns displacement into an...