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
-
Cameroon Introduces 3% Revenue Tax on Non-Resident Digital Platforms
08:28
-
Suez Canal Authority Signs Japan-Backed Deal for First Diving Support Vessel
06:59
-
Sonatrach Approves New Gas Plan Amid Rising Domestic Demand and Limited System Flexibility
06:55
-
Libya Looks to Tunisia as It Explores Education Digitalisation Cooperation
03:34
-
Ghana Escalates Cybercrime Fight, Arrests 141 Suspects
03:23
-
UNICEF StartUp Lab Opens Applications for Sixth Cohort in Ghana
13:17
-
Togo Overhauls Tax Framework for Nigeria-Ghana Gas Pipeline
13:11
-
Chad Steps Up Rollout of ‘Tchad Connexion 2030’ in Talks With Huawei
12:42
-
Benin Developer Osee Soke Builds AI Tools to Ease Communication for the Deaf
12:29
-
Neptune Group Begins Marketing Own LPG Brand in Cameroon
11:55
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
MTN Zambia launched a Mastercard-powered virtual card enabling secure global online payments for u...
Suez Canal Authority, JICA sign $22 million deal for diving support vessel Vessel to boost canal security, emergency response and ship...
Libya seeks Tunisia’s expertise to digitise education system Plans include connecting schools, expanding distance learning Cooperation aims to narrow...
Ghana arrests 141 suspects in nationwide cybercrime crackdown Authorities seize laptops, phones linked to fraud and online scams Losses rise sharply,...
Nigeria completes AKK gas pipeline construction, crossing Niger River Project to connect northern cities to gas network by 2026 Pipeline aims to boost...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...