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
-
West African Resources Payments to Burkina Faso Surge Past $398 Million in 2025
15:54
-
Ethiopia Opens Livestock Market to Brazil in Supply Diversification Push
15:51
-
Thor Explorations to Expand Côte d’Ivoire Gold Exploration Spend to $10 Million
15:47
-
Côte d’Ivoire Moves to Reform Air Transport Sector with New Roadmap
15:43
-
Zazu, Visa roll out digital business accounts for Moroccan SMEs
14:54
-
Cameroon approves diaspora-led CFA500bn Resort City project in Limbe
14:21
-
Cocoa regains edge over robusta in Cameroon, still far below government targets
05:06
-
Cameroon’s trade deficit widens 23% in 2025 despite import substitution push
05:04
-
Cameroon’s industrial equipment imports hit CFA757.4 bln in 2025, despite 3.7% drop
05:02
-
Morocco Targets $297 Million Gaming Market with Huawei Partnership
18:42
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Ethiopia authorizes imports of meat, dairy, and animal genetics from Brazil Addis Ababa aims to boost supply and improve herd...
Authorities launch national workshop to define aviation reform roadmap High taxes and weak connectivity weigh on sector...
Ghana launches “Accra Reset” panel to reform global health governance Initiative seeks stronger Global South role in decision-making Move...
IMF reaches preliminary deal to disburse $183 million to Madagascar Funding tied to programme reviews, targets infrastructure and...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...