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
-
Guinea Appoints Alpha Bacar Barry as Education Minister
18:44
-
DR Congo, AD Ports Sign MoU for Multi-Purpose Terminal at Matadi
18:37
-
Senegal: Over 100 Artists Urge President Diomaye Faye to Sanction Israel
17:40
-
Over 60% of Cameroon’s robusta exports go to Italy, Algeria and Belgium in 2024–25
17:33
-
Kenya Saves $167 Million After Yuan-Denominated Debt Swap With China
16:51
-
Signe Fokui Maxime Builds Bitkap to Streamline Online Money Transfers
15:54
-
Douala BRT project to start feeder road works in May 2026 with CFA4.7bn budget
15:51
-
Cameroon corporate profits fall 13% in 2024 despite higher turnover
15:40
-
Audrey Ludivine Baha Launches Nofey to Digitize Access to Local Artisans in Africa
15:26
-
GoCab Raises $45 Million to Scale Electric and Inclusive Mobility Across Africa
15:24
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
ECOWAS has provided CFA400 million to support refugee assistance in Togo. The funding targets the...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
Guinea appointed Alpha Bacar Barry as minister in charge of national education, literacy, technical education, and vocational training by presidential...
DR Congo and Abu Dhabi–based AD Ports signed a memorandum of understanding to develop and operate a multi-purpose terminal at Matadi port. The project...
Kenya saved about $167 million in debt servicing costs after converting Chinese loans from dollars to yuan. The swap covered three China...
JPMorgan Chase is finalizing a new benchmark index for local-currency frontier market bonds, with a potential announcement by mid-2026. The index...
More than 100 Senegalese artists publicly urged President Bassirou Diomaye Faye to impose sanctions on Israel over the Gaza conflict. The artists...
Fela Kuti received a posthumous Lifetime Achievement Award from the Recording Academy He is the first African artist recognized by the Grammys...