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
-
IMF Approves $266 Million Climate Financing for Liberia, Releases $26 Million Under ECF
19:21
-
Axian Telecom taps Oracle to unify systems as it prepares AI rollout
18:40
-
Togo Launches National Food Safety and Phytosanitary Lab
18:11
-
Côte d’Ivoire joins Korea-backed BRIDGE programme, first in West Africa
18:07
-
In Cameroon, New App Connects Informal Workers to Digital Marketplaces
17:02
-
Togo’s Galley elected president of regional telecom regulators
16:46
-
Togo unveils plans for new development roadmap, public consultations announced
16:25
-
Cameroon Steps Up Rice Self-Sufficiency Drive with New IRAD-SEMRY Agreement
14:17
-
NEC introduces program connecting African startups to Japan
14:15
-
Botswana unveils $64 mln fund to back regional tech startups
14:02
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
Facility to test food, plant, animal products and assess risks Lab aims to boost health protection and agricultural export...
Côte d’Ivoire launches BRIDGE project to tackle educational exclusion Program targets out-of-school children and illiterate...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...