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
-
South Africa Teams Up With Google to Train 5,000 in Digital Skills
10:38
-
Proparco, RMBV Take Stake in Morocco’s Africa Feed & Food With $91 Million Deal
10:33
-
Visa Focuses on Skills Development to Strengthen Africa’s Payments Ecosystem
10:29
-
Rising Credit Risks Weigh on BOA Burkina Faso’s Profit in 2025
10:23
-
Nigerian Entrepreneur Lloyd Adiele Drives Cross-Border Payments Innovation
15:47
-
Saad Jittou Builds Integrated Transport Solution with Weego
15:36
-
Burkina Faso Advances AI Strategy with Focus on Local Languages
15:34
-
Ethiopia Unveils Smart Police Station to Digitize Public Services
15:31
-
Togo, Turkey sign education agreement to support training and mobility
13:36
-
Lomé to host Francophone parliamentary conference in April
13:24
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
MTN Mobile Money Zambia partnered with Indo Zambia Bank to enable payments via bank POS terminals....
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Government to award 5,000 Google certifications in AI and digital skills Program targets students, teachers, and underserved communities Initiative...
Proparco and RMBV take minority stake through $91 million capital increase Funds to support industrial expansion and West Africa growth Group...
Visa trains banks and fintechs in Dakar through intensive program Initiative combines technical expertise with real-world case studies Group...
Net profit drops 14% to CFA19.25 billion in 2025 Cost of risk nearly doubles, cutting operating income Bank shifts toward more liquid assets amid...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...