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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

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    Nigeria’s national debt hits an all time as the country struggles with repayment

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    EIU analysts forecast grim economic outlook for Africa in 2023

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AngloGold to seal Obuasi mine from illegal miners

bycitibusinessnews
October 7, 2014
in Mining, News
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AngloGold Ashanti has assured it has adequate security to keep illegal miners at bay when it closes its Obuasi mine.

The mining firm will partially close its Obuasi mine for two years to upgrade the mine.

The company would continue with its surface mining programme which it regards as profitable against the expensive underground mining it has been doing for some years now.

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The mine which has been in existence for over hundred years has been struggling for years.

The period of the amended operation is to allow for massive capital injection to renew its antiquated infrastructure, improve underground transport and sharpen the skills of its workers.

The planned shutdown is also to enable management to put the mine in a care and maintenance mode.

Speaking to Citi Business News Vice President, Corporate Affairs for Anglogold Ashanti Ghana Kwame Addo – Kufour said AngloGold Ashanti in collaboration with the security agencies will ensure that illegal miners do not encroach on the company’s concessions.

“AGA as a responsible miner has a strategy to secure its operations and we have received a lot of support from the security agencies and the mining task force in implementing this. Therefore I can say we have got adequate security and the support we require.”

Kwame Addo – Kufour adds AGA is committed to making sure that during the period of the amended operations the integrity of the underground operations will be maintained and in collaboration with the military and other agencies ensure that the other operational areas  are ready for ramp up in the very short term.

By :  Norvan Acquah – Hayford/citifmonline.com/Ghana

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