| Randgold Resources Limited: Groundbreaking Partnership to Revive Obuasi Gold Mine | |
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ACCRA, GHANA--(Marketwired - Sep 16, 2015) - Randgold Resources Limited ("Randgold") (LSE: RRS) (NASDAQ: GOLD) and AngloGold Ashanti Limited ("AngloGold Ashanti") have concluded an investment agreement (the "Agreement") aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti's Obuasi gold mine in Ghana. In terms of the Agreement, Randgold will lead and fund a development plan designed to rebuild Obuasi as a viable long-life mining business with an attractive cost structure and returns. Obuasi, located in the Ashanti region of Ghana 320 kilometres northwest of the capital Accra, is a large, high-grade deposit with proven and probable ore reserves (as reported by AngloGold Ashanti in their 2014 Annual Report) of 24.53Mt at 6.70g/t for 5.29Moz, part of a substantial mineral resource base. In 2012, AngloGold Ashanti initiated a programme to modernise the mine, principally by starting to develop a ramp access that will ultimately run from surface to high-grade blocks of ore underground. The ramp will supplement current vertical hoisting infrastructure and help debottleneck the underground operation by allowing for greater ease in transporting people and materials underground, and transporting ore to surface. This is a necessary step ahead of the envisaged transformation of the mine into a modern, mechanised operation. At the end of 2014, AngloGold Ashanti converted Obuasi to limited operations, ceasing underground production, retrenching the workforce, but continuing to process tailings and starting a feasibility study on the redevelopment of the mine. Development of the decline ramp has continued over this period. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/2610Z_1-2015-9-16.pdf
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Randgold Resources Ltd.
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PRODUCER |
CODE : GOLD |
ISIN : US7523443098 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Randgold Res. is a gold producing company based in United kingdom. Randgold Res. holds various exploration projects in Tanzania. Its main assets in production are MORILA, LOULO and TONGON in Mali and OBUASI in Ghana, its main assets in development are KIBALI (KILO-MOTO) in Congo Dem. Rep. of, MASSAWA in Senegal and GOUNKOTO in Ghana and its main exploration property is MIYABI in Tanzania. Randgold Res. is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 1.5 billions as of today (€ 1.4 billions). Its stock quote reached its lowest recent point on November 07, 2003 at US$ 10.03, and its highest recent level on January 04, 2013 at US$ 99.88. Randgold Res. has 93 804 000 shares outstanding. |