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
-
Togo Inflation Falls to 0.4% in 2025, Lowest in Three Years
18:13
-
Bipaga LPG output cuts Cameroon’s fuel import bill by over $25mln
17:49
-
Algeria Moves to Electronic Land Titles With AMLAK System
17:33
-
Benin Open to Hosting FESMAN-Style Cultural Event Under New Name
17:32
-
Cemac states target nearly $7bn in domestic borrowing in 2026
17:30
-
Lundin family steps in to finance Karowe mine underground project
17:24
-
Cameroon applies CEEAC common external tariff from January 1, 2026
16:58
-
Sonara board sets CFA291.9bn budget for refinery rehabilitation plan
16:52
-
Douala plans CFA3bn land reserve drive to support urban projects
16:49
-
Moroccan Government Plans AI Roadmap to 2030, Targets $10B GDP Contribution
16:42
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
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...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Governments plan to raise CFA3,908.5 billion on the BEAC public securities market The total is down from CFA5,272.8 billion mobilized between...
Rwanda and Oman signed four memorandums of understanding covering logistics, aviation, airports, and digital technologies. Oman Air announced plans...
Ethiopian PM Abiy Ahmed held high-level talks in Djibouti on regional security, trade, and economic cooperation. The visit comes amid tensions...
Nigerian regulators will require refunds for failed airtime and data top-ups within 30 seconds starting March 1, 2026. The rule will apply to...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...