Published by Jaroslaw Adamwski
To invest in mine South Africa’s AngloGold Ashanti, the world’s third largest gold miner, has unveiled plans to invest some $37 million in its Tropicana gold mine project in West Australia.
“Gold production (100%) is forecast to be between 478,000 oz and 492,000 oz next year and between 530,000 oz–548,000 oz in 2019,” the company said in a statement.
The investments will extend the facility’s mine life by about seven years to 2027. Gold production over Tropicana’s remaining life of mine is forecast to be some 4 million oz, according to data from AngloGold Ashanti.
Headquartered in Johannesburg, the company says it has 17 mines in 9 countries. AngloGold Ashanti produced 3.628 million oz of gold in 2016, generating $4.08 billion in revenue. Last year, production in the Australasian region, consisting of the Sunrise Dam and Tropicana mines, accounted for 14% of the group’s total gold production.