• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 2, 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

Gold Fields Plans to Make Decision on Ghana Mine by Early 2024

September 23, 2023
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
Gold Fields Plans to Make Decision on Ghana Mine by Early 2024

Gold Fields has indicated that it plans to make a decision on whether to keep or sell its Asanko gold mine (AGM) in Ghana within four months.

Interim Chief Executive Officer, Martin Preece, stated that the South African bullion producer is weighing “all options” for the mine, including a total divestiture or a move to increase its ownership.

Gold Fields and Canada’s Galiano Gold formed a joint venture in 2018 to run the asset, which churned out 170,342 ounces of gold last year.

RelatedPosts

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

Ghana Sets Ambitious Course to Become West Africa’s EV Hub 

Small-Scale Miners Urge Government to Implement Cooperative Mining Scheme 

Asanko’s Productive Life

Production at Asanko is expected to fall to 120,000 to 130,000 ounces this year, though Galiano, the mine’s operator, is ready to roll out a new mine plan.

As described in a 2023 feasibility study, Asanko’s productive life can be extended by 8.5 years, with annual gold production forecast to double from the 2023 guidance of 100,000-120,000 ounces to 250,000 ounces per year from 2025.

AGM is a multi-deposit complex, with four main open-pit mining areas – Abore, Miradani North, Nkran and Esaase – plus multiple satellite deposits along the Asankrangwa gold belt, and a 5Mtpa carbon-in-leach processing plant.

The mine complex Is the smallest asset Gold Fields has in Ghana. In March, the company reached a deal with AngloGold Ashanti to combine their neighbouring Tarkwa and Iduapriem mines in the country, which will create Africa’s biggest gold mine.

Gold Fields and AngloGold would own 60% and 30% of the joint operation, respectively, with the Ghanaian government holding 10%

The joint venture would produce an average 900,000 ounces annually over the first five years and 600,000 ounces over its estimated 18-year life of the mine, the companies said at the time.

Gold Fields, like its rival AngloGold Ashanti, has shifted focus from the home country to more profitable mines in Ghana, Australia and the Americas region.

While the gold miner founded by Cecil John Rhodes in 1887 still runs South Deep operation in South Africa, mining in the country has become more difficult due to the geological challenges of extracting gold from the world’s deepest deposits.

Gold Fields Limited (formerly The Gold Fields of South Africa) is one of the world’s largest gold mining firms. Headquartered in Johannesburg, South Africa, the company is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE).

The firm was formed In 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Field was the world’s eighth-largest producer of gold.

The company owns and operates mines in South Africa, Ghana, Australia and Peru. Growth efforts are focused mainly in the regions where it currently operates, and are mainly driven through brownfields exploration on its existing land positions and through mergers and acquisitions in the same regions.

READ ALSO: Justice For Ghana Commences A Sit-In Demonstration At EC Premises

Tags: Asanko gold mine (AGM)Asankrangwa gold beltGaliano GoldGold fieldsMartin Preece
Please login to join discussion
Previous Post

Approval Of Budget To EC, Police And Judiciary Must Not Be Business As Usual – Ablakwa

Next Post

Moscow Must Lose- Zelenskyy

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

Ghana Police cracks down foils gold robbery attempt
General News

Police Foils Gold Robbery Plot Near Akuapem

July 2, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

July 1, 2025
Kepa Arrizabalaga
Sports

Arsenal Signs Kepa from London Rival

July 2, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

July 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

July 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

July 1, 2025
Ghana Police cracks down foils gold robbery attempt
General News

Police Foils Gold Robbery Plot Near Akuapem

by Lilian AhedorJuly 2, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

by Silas Kafui AssemJuly 1, 2025
Kepa Arrizabalaga
Sports

Arsenal Signs Kepa from London Rival

by Evans Junior OwuJuly 2, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

by Silas Kafui AssemJuly 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

by Evans Junior OwuJuly 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

by Stephen M.CJuly 1, 2025
Ghana Police cracks down foils gold robbery attempt
Communication Minister Engages MTN Over Data Price Glitch and Delays
Kepa Arrizabalaga
Hamza Suhuyini Sayibu, President, GBA
President John Dramani Mahama
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
[/vc_row_inner]

Recent News

  • Police Foils Gold Robbery Plot Near Akuapem
  • Communication Minister Engages MTN Over Data Price Glitch and Delays
  • Arsenal Signs Kepa from London Rival
  • Why Hasn’t GBA Sued Over Chief Justice Suspension?
  • Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer
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.