Deal #4787

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

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.

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.

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.