UPDATE 1-AngloGold resumes exports of gold from Guinea mine

Tue Jul 14, 2009 2:21am EDT
 
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* Guinea government lifts export ban

* AngloGold pays $10 mln for mine rehabilitation

* Mine produced 88,000 oz of gold in Q1 of 2009

(Adds details)

JOHANNESBURG, July 14 (Reuters) - AngloGold Ashanti Ltd (ANGJ.J), the world's No. 3 gold producer, said on Tuesday it had resumed exports from its mine in Guinea after the government lifted the ban on exports last month.

Production at the Siguiri mine was uninterrupted during the period of the imposed gold export embargo, the company said.

"A temporary embargo on the export of gold was lifted at the end of June, allowing a month's worth of production to be shipped from the country during the first week of July," it said in a statement.

AngloGold said it had agreed to advance $10 million for the environmental rehabilitation of the mine, subject to the condition that the payment be offset against the balance of AngloGold future environmental liabilities.

The company said the mine, in which the government of Guinea holds a 15 percent stake, produced 333,000 ounces of gold in the course of 2008 and 88,000 ounces in the first quarter of 2009. (Reporting by Agnieszka Flak)

 

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