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AngloGold not abandoning Obuasi mine

  • SOURCE: | Editor
  • anglogoldAngloGold Ashanti has said it does not intend abandoning operations in Ghana despite the recent incursion by a horde of illegal local miners on its idled Obuasi Mine in the Ashanti Region last week.

    The miner’s Corporate Affairs Manager John Owusu died in the ensuing skirmishes during the invasion.

    There have been fears that AngloGold Ashanti may pack out of the country following the latest troubles from the illegal miners.

    However, Group Head of Communications and Investor Relations, Stewart Bailey said Tuesday February 16 in an interview with Joy Business; George Wiafe that even though “there’s no such thing as a never-ending well of patience,” “what I would say… looking at Obuasi in the current context of a very difficult emerging market environment, globally, is that a new mining investment that can provide tax revenues to the state, foreign direct investment, jobs, employment, that’s something we are saving.”

    “So, we are certainly committed to seeing this process through and we would hope that government stands alongside us in order to achieve.”

    “It’s been tough for much of the past 10 years, I think it’s well known that the mine has struggled in various market environments and we’ve stayed the course.

    “We have invested significant capital into Obuasi over the last 10 years and although we did put the mine on limited operation mode – we ceased underground mining in 2014 – we have been working very hard in the interim on a feasibility study that will show the economics of restarting Obuasi as a modern productive mining operation. It’s critical for us that we are allowed to continue with that feasibility study, so that if the returns are shown to be economic, then we can return this mine to its iconic status within Ghana,” Mr Bailey added.

    Source: http://classfmonline.com/1.8682073

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