AngloGold Ashanti sounds edgy about developments in Tanzania

Developments in Tanzania are “concerning” for AngloGold Ashanti because its Geita mine is a “tier one” asset in which it is currently investing $180m during the current financial year to end-December with further capital expenditure planned for next year.

That’s according to AngloGold Ashanti CEO Srinivasan (Venkat) Venkatakrishnan who added clarity was needed on the impact of Tanzania’s new legislation affecting the mine development agreements that formed the basis of future investment in mining in the country.

Speaking on a media call in Johannesburg on Monday Venkat added that, “that’s why we are seeking dialogue with the government. It’s very difficult to say why the Tanzanian government has taken these particular actions but it’s very clear there is a view the State is not getting a sufficient participation in the share of the revenues generated

Leave a Comment

2 + 1 =