{"id":1156735,"date":"2019-12-20T05:57:07","date_gmt":"2019-12-20T11:57:07","guid":{"rendered":"https:\/\/www.mining.com\/?p=1009769"},"modified":"2019-12-20T05:57:07","modified_gmt":"2019-12-20T11:57:07","slug":"anglogold-re-starts-obuasi-mine-after-five-years-of-closure","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1156735","title":{"rendered":"AngloGold re-starts Obuasi mine after five years of closure"},"content":{"rendered":"<p>South Africa\u2019s AngloGold Ashanti (NYSE:AU)\u00a0(JSE:ANG), the world\u2019s third-largest producer of the precious metal, <a href=\"https:\/\/thevault.exchange\/?get_group_doc=143\/1576747309-AngloGoldAshantisObuasiGoldMinePoursFirstGoldOnTimeandOnBudget.pdf\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has poured first gold at its Obuasi mine<\/a> in Ghana, five years after mining activities were suspended.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company, which seeks to access Obuasi\u2019s 30-million-ounce<br \/>\nore body over the next two decades and beyond,&nbsp;said that following a ramp<br \/>\nup period, the mine will generate 2,000 tonnes a day during 2020.<\/p>\n<p>The figure, it added, is expected climb to 4,000 tonnes a<br \/>\nday by the end of next year. The ultimate gold is to have Obuasi churning out<br \/>\nbetween 350,000 and 400,000 ounces annually for the first ten years of<br \/>\noperations.<\/p>\n<p>The mine, which for years<a href=\"https:\/\/mining.com\/illegal-miners-refuse-to-leave-anglogolds-obuasi-operation\/\"  rel=\"noreferrer noopener\">&nbsp;battled incursions by illegal miners<\/a>, had been halted<br \/>\nsince 2014. At the time chief executive, Srinivasan Venkatakrishnan, decided<br \/>\nthe company was no longer in a position to subsidize the loss-making operation.<\/p>\n<p>AngloGold then <a href=\"https:\/\/www.mining.com\/anglogold-to-pour-first-gold-at-obuasi-mine-by-year-end\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">moved to rebuild the mine\u2019s foundation<\/a> for what it called a \u201csustainable long-term future\u201d, which is expected to cost between $495 million and $545 million spent between 2018 and the end of 2020.<\/p>\n<p>Development of the underground section of mine is ongoing,<br \/>\nwith deepening of the Obuasi deeps decline and access to the KwesiRenner shaft<br \/>\non schedule for mid-2020, the company said.<\/p>\n<p>Construction of new plant and infrastructure will continue<br \/>\nin 2020, it added.<\/p>\n<p>AngloGold Ashanti\u2019s next challenge is to find a buyer for Mponeng,<br \/>\nits last South African operation.<\/p>\n<p>The sale of Mponeng, the world\u2019s deepest mine,\u00a0would be the final step in the miner\u2019s <a href=\"https:\/\/www.mining.com\/web\/anglogold-plans-sell-last-south-africa-mine-era-closes\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">withdrawal from South Africa<\/a>, after it sold and shut other mines in the country to stem losses.<\/p>\n<p>It could also be a precursor to AngloGold moving its primary listing to London or Toronto, though chief executive officer, Kelvin Dushnisky, has said the company plans to remain on the Johannesburg Stock Exchange.<\/p>\n<p>AngloGold accelerated its expansion outside the country in 2004 when it acquired Ghana\u2019s Ashanti Goldfields Ltd. and today operates mines on four continents. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company is seeking access to Obuasi&rsquo;s 30-million-ounce ore body over the next two decades and beyond.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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