AngloGold Ashanti has said the company is on course to produce its first gold from the revamped Obuasi mine.
The AngloGold Ashanti Obuasi mine was revamped in January this year after about four years of inactivity.
Speaking to Citi Business News, Managing Director of AngloGold Ashanti, Eric Asubonteng said the move should help in retaining Ghana’s position as a leading producer of gold in Africa.
“At this stage, it is in the project phase, as you would recall we suspended production in the Obuasi mine towards the end of 2014. We went into care and maintenance, the best part of 2016 was lost because part of the mine was overrun by illegal miners.
All these things coming together, a reinvestment decision was made and since mid-last year, we have gone ahead and we are fully into implementation. So far, we are well on track with the redevelopment effort and we remain on track to produce our first ounce of gold by the end of 2019,” he said.
President Akufo-Addo in January this year re-opened the AngloGold Ashanti gold mine in Obuasi.
It is expected that government rakes in some US$2.16 billion in revenue over the next 22 years, in royalties and corporate and withholding taxes.