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
-
Kenya Road Project Secures $550 Million World Bank Support to Improve Horn of Africa Trade
18:47
-
Egypt Advances $100M Dry Port Project in 10th of Ramadan City
18:45
-
NSIA Banque CI, accountants’ body sign partnership to support SMEs in Côte d’Ivoire
18:42
-
Weekly Health Update | Health Funding Efforts Grow in Africa; Study Highlights Kidney Disease Risks
18:26
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
-
EU Funds Coastal Surveillance to Curb Illegal Fishing in Cameroon
20:54
-
Togo returns to regional market with 30 billion CFA francs bond offering on April 17
19:56
-
Togo, Benin move to formalize cross-border horticultural trade
14:32
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
World Bank to mobilize $550 million for Kenya road project Project to upgrade 508 km, boosting regional trade links Corridor to cut...
Egypt signs deal on $100 million dry port with EDECS, MEDLOG Facility aims to ease port congestion, shift freight from road to...
NSIA Banque CI, OEC-CI sign three-year SME support partnership Deal offers financing, training, and support for accountants and SMEs Aims to improve...
This week in Africa, health news highlights progress in kidney disease research, new investments in health security, and efforts to strengthen...
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...