Africa’s Biggest Gold Mine in Ghana Put on Hold
Africa’s Biggest Gold Mine in Ghana Put on Hold
Key facts:
🟠AngloGold Ashanti & Gold Fields have hit pause on their plan to merge Ghana’s Tarkwa & Iduapriem gold mines – two years after announcing what could’ve been Africa’s biggest gold mine.
🟠The decision comes as the Ghanaian government has yet to grant regulatory approval.
🟠With no progress made, both companies are shifting focus back to improving performance at their existing sites.
🟠The proposed joint venture would’ve been 60% owned by Gold Fields, 30% by AngloGold, and 10% by the Ghanaian government.
🟠The mine was expected to produce 900k oz/year in the first 5 years and 600k annually over 18 years.
🟠While the mega mine is on hold, both companies are doubling down on current operations.
The image is AI-generated
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