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
-
Malaysia–Kenya: Four Legal Instruments Established to Support Development
20:02
-
Vodacom Taps Google Cloud to Centralize Critical Data and Scale AI
19:57
-
TUI Group Expands African Tourism Footprint With Seven New Hotels
19:45
-
Kenya Tightens Legal Oversight of Private Power Contracts
19:29
-
develoPPP Ventures Opens Applications for €100,000 Funding Round in Kenya
16:28
-
Nigeria’s Konnadex Gets $20,000 Lisk Grant to Develop Stablecoin Payment Portal
16:24
-
M-KOPA Kenya Tops $1.6 Billion in Credit After Serving 4.8 Million Customers
16:21
-
Japanese chocolatiers show growing interest in Cameroon’s cocoa
12:17
-
Government, African Development Bank Accelerate 21-Billion-Franc Project Targeting Modern Agriculture
12:15
-
Cameroon holds 1.1% share of African exports and ranks 19th in 2024
12:12
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
Malaysia and Kenya signed four legal instruments covering aviation, tourism, private-sector cooperation and smart-city development. Both governments...
Vodacom signed a multi-year partnership with Google Cloud to migrate and unify its critical data infrastructure. The operator will use BigQuery and...
TUI Group is opening seven new hotels across North, West and East Africa, raising its continental portfolio to 106 hotels and over 34,000 rooms in nine...
Husk Power Systems plans to deploy one gigawatt of decentralised energy assets in Africa by 2030 using an artificial intelligence platform. The chief...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...