Obuasi
Mark-Bristow
Mark Bristow says Randgold Resources remains committed to creating real value for all its stakeholders by continuing to invest substantially in its exploration programmes

African gold major Randgold Resources has terminated its investment agreement entered into with AngloGold Ashanti to redevelop the Obuasi mine in Ghana which remains on care and maintenance.

After undertaking a due diligence exercise into the mine and the redevelopment opportunity Obuasi affords, Randgold determined that the development plan did not satisfy its internal investment requirements.

On 16 September 2015, Randgold Resources and AngloGold Ashanti announced their intention to form a joint venture to redevelop AngloGold Ashanti’s Obuasi mine in Ghana, subject among other things to the completion of satisfactory due diligence by Randgold and the agreement of a revised development plan.

Chief executive Mark Bristow says Randgold remains committed to creating real value for all its stakeholders by continuing to invest substantially in its exploration programmes with their proven record of success as well as by investigating potential growth opportunities presented by the market.

Top Stories:

Anglo American to sell its stake in Australian Dartbrook coal mine

Mineral Deposits restarts TiZir TTI furnace following maintenance shutdown

Competition Commission approves CoAL merger with Universal Coal