TORONTO (miningweekly.com) – Johannesburg-based AngloGold Ashanti expects to restart drilling on its huge La Colosa gold prospect, in Colombia, before the end of the year, CEO Mark Cutifani told delegates at the Denver Gold Forum on Wednesday.

Drilling at La Colosa, which has an inferred mineral resource of more than 12-million ounces, was suspended more than a year ago and the company has been working since to resolve permitting issues.

“We've got our Federal approvals and we're working through the local approvals as we speak,” Cutifani said.

“We expect to start drilling on two new projects [in Colombia] in the next six weeks and we expect to be back drilling at La Colosa before the end of the year.”

The company will be watching the upcoming election in Colombia with “great interest”, he added.

AngloGold, Africa's biggest miner of the yellow metal, expects La Colosa to produce about 850 000 oz/y for 15 years.

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