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AngloGold committed to investing in SA, Australia

AngloGold committed to investing in SA, Australia

Photo by Bloomberg

7th March 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner AngloGold Ashanti has reiterated its dedication to both Australia and South Africa as destinations for investment.

Speaking at the opening of the Tropicana mine, in Western Australia, chairperson Sipho Pityana said the company was looking to develop a well-balanced portfolio, by both divesting of uneconomic assets and possibly acquiring others.

The company would also focus on its exploration activities to advance projects to the development phase.

“We are investing significant capital in the new technology programme in South Africa that is looking at maximizing efficiencies, enhancing safety,” Pityana said.

He noted that the company was currently looking at operations previously considered too deep to be safely accessible, as the new technology offered up solutions to reach these deposits.

“We think the new technology initiative that we have embarked on in South Africa suggests that the country could continue to be a significant part of our portfolio.”

Pityana pointed out that the company’s recent investment in the Sunrise Dam project, in Australia, was also an indication that AngloGold Ashanti was happy operating in the Australian environment.

The company was hoping to extend the mine life of the Sunrise Dam operation by extending the openpit operation to an underground mine.

“We have invested quite significant capital in the next phase of Sunrise Dam, and that speaks for itself in terms of our view of the project,” Pityana said.

With its Tropicana mine, in Western Australia, pouring its first gold in September last year, along with the first gold pour from the Kibali mine, in the Democratic Republic of Congo, AngloGold Ashanti now had 23 producing operations around the world, with a third of its total production sourced from South Africa, a third from the rest of Africa, and the remainder from operations in the US and Australia.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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