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
-
Egypt Opens 5-GW Solar Manufacturing Complex as It Targets 42% Renewables by 2030
20:00
-
Somalia Builds Renewable Energy Push to Tackle High Electricity Costs
19:51
-
South Africa’s Eskom Says Grid Gains Ease Pressure From Power Cuts
19:37
-
Segilola, Nigeria’s Only Operating Industrial Gold Mine, Meets 2025 Output Target
19:33
-
Togo Creates National Forest Seed Centre to Strengthen Reforestation Policy
15:29
-
Nathalie Kouassi Akon on How IFC Plans to Scale Up Investment in Togo | Interview
15:22
-
AgriTech4Tunisia 2026 Opens Applications Until Feb. 12
14:44
-
Founders Smith Program 2026 Opens Applications to African Startups
14:31
-
Carbon AI To Convene AI Experts In Lagos For Conference On Practical AI Use
14:29
-
University of Kara, Business Chamber Seek Closer Links to Improve Employability
14:05
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
IFC considers up to $50 million investment in Adenia Entrepreneurial Fund I Fund targets African SMEs across manufacturing, energy, healthcare,...
Algeria rolls out AMLAK nationwide, replacing paper land titles with digital records System centralizes land issuance, improves traceability,...
The Regional Securities Exchange BRVM entered 2026 after an exceptional year in 2025, during which market capitalization posted record gains. The year has...
Mauritius and Russia discussed digitalization and innovation partnerships Talks focused on digital tools to boost SME productivity and...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...