• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, July 15, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

AngloGold Ashanti to Resume Obuasi Mine by mid-October

September 30, 2021
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
mining sector

A pile of gold bars

AngloGold Ashanti has disclosed that it will resume operations of its underground ore mine at Obuasi by mid-October.

The new date notwithstanding, work in the underground ore mine will constitute the replenishing of the Run-of-Mine stockpile throughout the rest of the year, thus, laying the foundation for actual gold production to commence in January 2022.

Following this schedule, the safe ramp up to the full mining rate of 4,000 tons per day will be achieved by the end of the first half of 2022.

RelatedPosts

COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’

Patrick Mensah Appointed MD of Bogoso Prestea Mine

Auditor-General Uncovers Massive Unapproved Spending, Contractual Lapses at ECG

In a press statement released today, September 30, 2022, the company recounted the circumstances leading to the temporal halt in operations at the mine, noting that a comprehensive series of protocols have been introduced to supplement existing operating procedures.

It could be recalled that, on May 18, 2021, a sill pillar at the underground mining site failed resulting in the loss of one of the miners. This unfortunate incident therefore necessitated a detailed review of mining and ground management plans.

Pertaining the new protocols, the company has rolled out an existing systematic probe drilling procedure, extensive use of technology, including Cavity Monitoring Systems, among others.

“These protocols, which have been integrated into the Mine Operating System, will be bolstered by scheduled audits to ensure the accuracy and diligence in probe drilling…”

AngloGold Ashanti

Despite this new development, AngloGold Ashanti still maintains its annual revised guidance for 2021, with the assumption that gold production is not expected for the remainder of the year.

Expectations are that the supplementary operating procedures introduced after the review will add $10 to $20 per tonne to the mine’s operation cost.

Production forecast for 2022 and beyond

Per the company’s 2022 forecast, gold production will come online as the mine ramp, is estimated at about 240,000oz — 260,000oz at an all-in sustaining cost of $1.250/oz to $1,350/oz. This carries a cash cost of $900/oz to 950/oz.

Towards the last quarter of next year, the company estimates that it would realize an annualized production at 320,000oz to 350,000oz a year. And this is expected to remain so for 2022 and 2023 until the completion of phase3 in Q4 2023.

At the completion of all the phases of the project, production from 2024 to 2028 is anticipated to average 400,000oz to 450,000oz at an all-in sustaining cost of $900/oz to $950/oz.

The Obuasi gold mine is one of the world’s largest gold ore bodies, with 29.5Moz of Mineral Resource, at an average grade of 7.64 grams per tonne.

The company started redevelopment of the mine in mid-2018, after it went on care and maintenance in 2016.

Phase 1 of the redevelopment project was completed by end September 2020 and began commercial production on October 1, 2020. Phase 2, construction and mine development was substantially completed at the end of June 2021.

The Company has an active youth apprenticeship programme, with graduated 55 young artisans last year and another 80 enrolled in 2021. Also, the company prioritizes local businesses within its supply chain, as 80 per cent of the total mines redevelopment was spent in Ghana, between wholly owned Ghanaian businesses and multinationals registered in Ghana.

Among other things, the company also supported in the fight against COVID-19 in the Obuasi area, providing healthcare facilities for the community as well as personal protective equipment, etc. to help contain the virus.

READ ALSO: $400 Billion Worth of Food end in Loss and Waste- Qu Dongyu

Tags: AsahntiGoldGold oreMineralsObuasi MineProduction
Please login to join discussion
Previous Post

Jim Iyke reveals ‘bad boy’ act reflects in his real life

Next Post

ILO calls on multinationals to support local SMEs under SCORE initiative

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

President John Dramani Mahama
General News

Mahama Commits to Developing the Western North Region

July 15, 2025
Hon. Sammy Awuku, Fuel, Appointees
General News

Minority Labels Mahama’s Fuel Cut Directive a PR Gimmick

July 15, 2025
Burna Boy Worried Over Small Crowd at Wireless Festival
Entertainment

Burna Boy Retracts Afrobeats Comments

July 15, 2025
EU Launches Preparedness Union Strategy
Europe

Individuals, Entities Sanctioned For Destabilising Moldova’s Democracy

July 15, 2025
UK Ends Secret Afghan Relocation Scheme
UK

UK Ends Secret Afghan Relocation Scheme

July 15, 2025
COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’
Extractives/Energy

COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’

July 15, 2025
President John Dramani Mahama
General News

Mahama Commits to Developing the Western North Region

by Evans Junior OwuJuly 15, 2025
Hon. Sammy Awuku, Fuel, Appointees
General News

Minority Labels Mahama’s Fuel Cut Directive a PR Gimmick

by Silas Kafui AssemJuly 15, 2025
Burna Boy Worried Over Small Crowd at Wireless Festival
Entertainment

Burna Boy Retracts Afrobeats Comments

by Esther Korantemaa OffeiJuly 15, 2025
EU Launches Preparedness Union Strategy
Europe

Individuals, Entities Sanctioned For Destabilising Moldova’s Democracy

by Comfort AmpomaaJuly 15, 2025
UK Ends Secret Afghan Relocation Scheme
UK

UK Ends Secret Afghan Relocation Scheme

by Lawrence AnkutseJuly 15, 2025
COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’
Extractives/Energy

COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’

by Stephen M.CJuly 15, 2025
President John Dramani Mahama
Hon. Sammy Awuku, Fuel, Appointees
Burna Boy Worried Over Small Crowd at Wireless Festival
EU Launches Preparedness Union Strategy
UK Ends Secret Afghan Relocation Scheme
COPEC Lauds Mahama for Ending Appointee Fuel Perks—Calls It ‘Forward-Thinking!’
[/vc_row_inner]

Recent News

  • Mahama Commits to Developing the Western North Region
  • Minority Labels Mahama’s Fuel Cut Directive a PR Gimmick
  • Burna Boy Retracts Afrobeats Comments
  • Individuals, Entities Sanctioned For Destabilising Moldova’s Democracy
  • UK Ends Secret Afghan Relocation Scheme
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.