Business Report (South Africa)
AngloGold Ashanti, the world’s third-biggest gold producer, will consider selling part or all of its Obuasi mine once it has undertaken a major restructuring of the Ghanaian operation, its chief executive officer said.
AngloGold is working to upgrade the more than 100-year-old mine as the gold price has fallen 23 percent since the start of 2013.
The company wants to restructure the mine’s underground operation, cut jobs and increase reliance on machinery rather than rock drills.
“We are looking for inward investment,” chief executive Srinivasan Venkatakrishnan said in an interview today.