December 19, 2019 / 10:39 AM / a month ago

AngloGold aims to produce 350,000–400,000 oz of gold a year from Ghana mine

FILE PHOTO: A worker pours gold at the AngloGold Ashanti mine at Obuasi, Ghana, October 23, 2003 . REUTERS/Luc Gnago/File Photo

(Reuters) - AngloGold Ashanti said it expects its Obuasi gold mine in Ghana to produce about 350,000 to 400,000 ounces per year for the first ten years, after achieving its first gold pour since it was suspended five years ago.

The initial capital expenditure for the mine, which has been in the process of redevelopment since last year, remains in the range of $495 million to $545 million, the company said on Thursday.

“Following a ramp-up period, AngloGold Ashanti estimates mining at a rate of 2,000 tons per day from Obuasi during 2020, climbing to 4,000 tons per day by year-end,” it said.

(This story corrects intended production figure in headline and paragraph 1)

Reporting by Yadarisa Shabong in Bengaluru; Editing by Edmund Blair

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