Deal #4787

Location #1

Spatial accuracy level
Exact location
Location
Obuasi, Ghana

Latitude
6.160845394133821
Longitude
-1.688096922198497
Target country
Ghana
Comment on location
320 kilometers northwest of Accra. near Obuasi, in the Ashanti Region of Ghana. Adansi North District. 60km south of Kumasi.

Land area

Intended size (in ha)
47
Size under contract (leased or purchased area, in ha)
[2004] 47

Intention of investment

Intention of investment
Mining
Comment on intention of investment
estimated reserves of 5.29 million ounces of gold. Mining operations are primarily underground, to a depth of 1.5km. Some surface mining in the form of open pit and tailings reclamation occurs.

Nature of the deal

Nature of the deal
Exploitation permit / license / concession (for mineral resources)

Negotiation status

Negotiation status
[2004] Concluded (Contract signed)
Comment on negotiation status
Gold mining began at Obuasi Gold Mine more than 112 years ago, in 1897 when it was originally known as the Ashanti Mine. Acquired following a merger between the former AngloGold Limited of South Africa and Ashanti Goldfields Company Limited of Ghana in 2004. Originally the mine was only owned by Anglogold. Joint venture between Anglogold and Randgold in 2015.

Implementation status

Implementation status
[2004] In operation (production)
[2016] Project abandoned
[2016] Startup phase (no production)
Comment on implementation status
Gold mining began at Obuasi Gold Mine more than 112 years ago, in 1897. In 2012, Anglogold had undertaken a modernization of the Obuasi mine program which included underground operations and infrastructure development. But in late 2014, the company limited its activity with a reduction in jobs and the cessation of underground production-- necessary to complete the feasibility study to determine the future mine design and mining approach. In the meantime, the environmental clean-up of old tailings spillage, some of which dates back to the 1950s, continued. This is likely to be completed by the end of 2015. The underground production will not be operational before the end of first quarter 2016. As of 2016 the mine was closed due to profitability issues with only a security force on duty.

Contract farming

Contract farming
No

Number of domestic jobs created

Jobs created (domestic)
Yes
Current number of jobs (domestic)
[2009] 5700
[2015] 1500
Comment on jobs created (domestic)
The company reduced the employees in 2014. The company has implemented a malaria policy, and reduced the incidences of malaria by 80% over the past five years.

Operating company

Name of investment project
Obuasi Gold Mine

 

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Data source #1

Data source type
Media report
File
Date
2015-09-17
Comment on data source
Les miniers Anglogold Ashanti et Randgold Resources créent une coentreprise au Ghana

Data source #2

Data source type
Media report
File
Date
2015-09-22
Comment on data source
African Review-- Ghana’s Obuasi gold mine to be redeveloped

Data source #3

Data source type
Company sources
File
Comment on data source
AngloGold Ashanti in Ghana

Data source #4

Data source type
Company sources
File
Comment on data source
Annual Sustainable development report summary, 2014

Data source #5

Data source type
Company sources
File
Comment on data source
Mineral resource and ore reserve report, 2014

Data source #6

Data source type
Company sources
File
Comment on data source
Annual Financial Statements, 2014

Data source #7

Data source type
Company sources
File
Date
2016-09-16
Comment on data source
Groundbreaking partnership to revive Obuasi gold mine

Data source #8

Data source type
Media report
File
Date
2016-02-16
Comment on data source
AngloGold Ashanti’s idled Obuasi gold mine threatened by illegal mining

Data source #9

Data source type
Company sources
File

Data source #10

Data source type
Company sources
File

Data source #11

Data source type
Other (Please specify in comment field)
File
Comment on data source
OECD Watch- ATTAC & FoE Sweden vs. Atlas Copco

Displacement of people

Comment on displacement of people
80 communities lie within a 30km radius of the mine.

Promised benefits for local communities

Promised benefits for local communities
Health
Education

Former land use

Former land use
Forestry

Former land cover

Former land cover
Forest land

Detailed crop, animal and mineral information

Resources area
Gold

Use of produce

Has export
Yes

In country processing of produce

In country processing of produce
Yes

Water extraction envisaged

Water extraction envisaged
Yes

Overall comment

Overall comment
Gold mining began at Obuasi Gold Mine more than 112 years ago, in 1897 when it was originally known as the Ashanti Mine. Acquired following a merger between the former AngloGold Limited of South Africa and Ashanti Goldfields Company Limited of Ghana in 2004. In 2012, Anglogold had undertaken a modernization of the Obuasi mine program which included underground operations and infrastructure development. But in late 2014, the company limited its activity with a reduction in jobs and the cessation of underground production. Joint venture between Randgold and Anglogold in 2015. Randgold and AngloGold Ashanti will be jointly responsible for funding the redevelopment of Obuasi in line with the agreed development plan.

March 1, 2019, 11:34 a.m.

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Jan. 12, 2017, 9:37 a.m.

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Nov. 12, 2015, 10:08 p.m.

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Sept. 23, 2015, 3:50 p.m.

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