Please note: you are viewing an old version of this deal. The current version can be found here: Deal #4787
Deal #4787 Version #69419
Ghana
Created at
2015-09-23
Last update
2020-07-02
Last full update
2020-07-02
Land area
Intended size
20 100 ha
Size under contract (leased or purchased area)
- [2004] 47.0 ha
- [2019, current] 20100.0 ha
Size in operation (production)
- [2019, current] 1800.0 ha
Comment on land area
According the Obuasi Investor presentation report, the company has a total lease area of 47,500 ha, ceded 60% of it (27,400ha) while retaining 40% of it (20,100 ha) . Out of the retained portion, 1800 ha is mined
Intention of investment
Intention of investment
- [current] 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, current] 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
- [2019, current] In operation (production)
- [2016] Project abandoned
- [2016] Startup phase (no production)
- [2004] In operation (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.
Obuasi, which has been primarily an underground operation, was placed on care and maintenance in 2016 pending the commencement of the redevelopment project. In June 2018, the Parliament of Ghana ratified the regulatory and fiscal agreements that cover the redevelopment of the mine and the Environmental Protection Agency issued environmental permits. In December 2019 the mine poured its first gold again.
Contract farming
Contract farming
No