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
-
Morocco Signs $1.28 Billion MoU to Build AI Factory
05:07
-
Forty Years After Chernobyl, Uranium Market Rebounds but Fragility Persists
20:10
-
Guinea Launches AI Adoption Programme for 250 Companies With Microsoft
19:17
-
Orange pushes super app strategy, bets on Max it for growth in Africa, Middle East
18:27
-
Cameroon palm oil exports rise 17% in 2025 despite supply shortfall
18:17
-
Ghana Weighs Fuel Tax Adjustments as Pump Prices Rise
17:53
-
Nosy Iranja, a ribbon of sand between two worlds off the coast of Madagascar
16:46
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Facility to include data center, training hub, innovation center Project supports Digital 2030 strategy, boosts jobs and AI capacity Nexus Core...
Civil nuclear power has long been a source of controversy, but driven by the energy transition, it is gaining ground globally, reviving both expectations...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
World Bank to mobilize $550 million for Kenya road project Project to upgrade 508 km, boosting regional trade links Corridor to cut...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...