Mining

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.

On the same topic
Egypt signs $8M deal for textile plant in SCZone Factory to create 700 jobs, export 90% of output Investment supports textile export growth...
Government orders talks to set “fair” Jet A1 prices Fuel costs jump nearly 267% in two months, straining airlines Sector warns of flight disruptions...
New 50 MW solar plant aims to improve power supply in rural Luapula Project reflects shift away from hydro dependence after 2024 drought Government...
Petrosen takes full control of Yakaar-Teranga gas project Government hails deal as a strategic recovery with no financial cost Timeline targets first...
Most Read
01

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
02

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.