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Anglogold suspends operations over clashes with illegal miners

Gold processing

Anglogold Ashanti (AGA) has suspended its essential services following clashes between illegal miners and some of its staff, leading to the death of one of its top managers. The clashes on Saturday led to the death of the company’s Communication Director, John Owusu. The illegal miners overpowered security officers detailed to protect Anglogold’s concessions which had been illegally taken over by the ...

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Randgold pulls out of joint venture with AngloGold Ashanti

AngloGold-Ashanti-Logo

Moves to revamp the Obuasi gold mine appears to have hit a snag following the pullout of mining firm Randgold. AngloGold Ashanti in September this year announced it had entered into a joint venture with Randgold Resources Limited to revamp the Obuasi mine to a world-class high-grade mine. But a few months down the line Randgold Resources Limited this morning ...

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GMWU urges miners to stay calm over Goldfields layoff

gold-feilds

The General Secretary of the Ghana Mines Workers Union (GMWU) has rejected claims of any pending layoffs at Goldfields Damang Mine in the Western Region. According to him the Damang mine of Goldfield Ghana Limited is currently undergoing restructuring and management and management of the company has assured the union that there will be no job cuts. Goldfields last week ...

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Goldfields to sack about 2,000 workers in Ghana

gold-feilds

Over two thousand workers of Goldfields are likely to be fired in Ghana in the coming months if gold prices on the global market does not recover. The dismissals will occur if the mining giant goes ahead with plans to shut down the Damang mine in Western Region. Citi Business News has gathered the company is however currently deciding whether ...

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Sam Jonah takes over BHP Billiton’s Liberian iron-ore interests

Sam Jonah - Executive Chairman of Jonah Capital

Liberian iron-ore interests of diversified major BHP Billiton have been acquired by Cavalla Resources. Cavalla Resources is a wholly-owned subsidiary of investment holding company Jonah Capital, a private company with a portfolio of assets primarily in the mineral resource sector in sub-Saharan Africa and owned by business mogul Sam jonah. Cavalla has been granted the exclusive rights over the four ...

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Gold poised for biggest weekly loss since March

gold

Gold headed for the biggest weekly decline in almost seven months as investors looked to the US nonfarm payrolls report Friday for signals on the strength of the economy, which will help determine when the Federal Reserve raises interest rates. Bullion for immediate delivery retreated as much as 0.5% to $1 108.43 an ounce, the lowest since September 16, and ...

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Anglogold to reinstate dismissed workers

AngloGold-Ashanti-Logo

AngloGold Ashanti has hinted to Citi Business News that most of its workers that were laid off in its retrenchment exercise last year are likely to reinstated. The move according to AngloGold Ashanti, operators of the Obuasi mine, is part of the company’s partnership with Randgold Resources Limited. Late last year AngloGold Ashanti Ghana laid off some 4,300 of its ...

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AngloGold Ashanti enters joint agreement with Randgold to revive Obuasi mine

AngloGold-Ashanti-Logo

AngloGold Ashanti has entered into a joint venture with Randgold Resources Limited to revamp the Obuasi mine to a world-class high-grade mine. Chief Executive Officer of AngloGold Ashanti Srinivasan Venkatakrishnan who confirmed the move to Business News said “Obuasi given the range of issues had to have a tough decision taken because you cannot fix the tyre of a car ...

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BoG sets new guidelines for gold exports

gold

The Bank of Ghana (BoG) will from this month begin rolling out new rules for gold export. The new rules which will take effect from Tuesday, September 15, 2015 will affect all gold exports. According to the central bank per the new measures all exports of gold must be done only through the Precious Minerals Marketing Company Limited (PMMC). PMMC ...

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Miners threaten to bring industry to a standstill

mining

The Ghana Mine Workers Union is threatening to bring the mining sector to a standstill if the current huge disparity between wages of locals and expatriates are not addressed. According to the miners, they will use their right to collective bargaining to demand their due. The union has been crying foul about the current trend, insisting most underpaid locals have ...

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