AngloGold Ashanti’s Obuasi Mine Celebrates First Gold Pour

AngloGold Ashanti (Ghana) Limited has marked the milestone of achieving the first gold pour at its Obuasi Mine in a colourful ceremony held at the Cricket Oval, Obuasi Mine on Wednesday 29th January 2020.

Following the launch of the Redevelopment Project, the team at Obuasi achieved the first gold pour on time and on budget. It has completed the first phase of redevelopment in line with the plan to create a modern, mechanised mine. Refurbishment of existing plant and construction of new infrastructure and underground development, in line with a new mine plan, has taken place over the past 18 months.

The Obuasi Mine will enter Phase 2 of development this year, where the construction of new infrastructure and further work on the processing plant, and underground will be carried out. “The commemoration of the first gold pour is a significant achievement for the company, Obuasi, the communities around the mine and Ghana. The work to revive this historic operation shows the importance of teamwork, partnership, commitment and the enduring power of shared values,” said Kelvin Dushnisky, AngloGold Ashanti’s Chief Executive Officer who attended the ceremony.

“I’m proud that our team at the Obuasi Mine achieved the first gold pour on schedule and within budget. Most importantly, the significant work throughout the year, that culminated in the first gold pour, was completed without any major safety incident,” said Eric Asubonteng, Managing Director of the Obuasi Mine.

It is estimated that, Obuasi will be mining at a rate of 2,000 tonnes of ore per day in 2020, progressing to 4,000 tons per day by year-end. For the first ten years, the mine will be producing gold at an average run-rate of 350,000oz – 400,000oz per year and above 400,000oz over the life of mine at all-in sustaining cost of around $800/oz. “I am excited by the prospect of the mine, and very confident that, working together, we can achieve our goals,“ said Massoud Massoudi, Project Director at the Obuasi Mine.

AngloGold Ashanti has delivered on its commitment to its labour plan, where the majority of employees and contractors are Ghanaians or Ghanaian companies. A total of $268m has been spent on the redevelopment , 80% of which ($216m) have been spent in-country. In addition, the company has employed about 3,500 people including contractors, to date. “It is important for us to work together to build an industry of indigenous businesses and also create jobs and wealth for the communities in Obuasi and Ghana, ” said Mr. Asubonteng. In addition to the boost to the economy that will come through employment and contracts with local businesses, AngloGold Ashanti at the Obuasi Mine has a corporate social responsibility investment programme and provides further support through the Obuasi Community Trust Fund. The Mine contributes $2 for every ounce of gold produced to the Community Trust Fund.

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