Tag Archives: AngloGold Ashanti

AngloGold struggling to keep flagship mine in Ghana open

AngloGold Ashanti gained a 4,000 sq km ground in Eritrea for its Kerkasha and Akordat North exploration licences

AngloGold Ghana in trouble
AngloGold Ghana in trouble

By Cecilia Jamasmie,

AngloGold Ashanti (NYSE:AU) (JSE:ANG) (ASX:AGG), the world’s third-largest gold producer, may have to sell or close down its flagship Obuasi gold mine in Ghana, as operations are becoming unsustainable.

The firm’s new CEO, Srinivasan Venkatakrishnan, told Reuters he is looking to make cuts to counter rising costs at the mine, which have more than doubled since 2008, and falling production.
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