AngloGold Ashanti is expected to resume underground ore mining at the Obuasi Gold Mine in Ghana by mid-October.
Underground mining activities at Obuasi were voluntarily suspended following a sill pillar failure on 18 May 2021 that resulted in the tragic loss of one of the company’s employees.
The company said that underground ore will be used only to replenish the run-of-mine stockpile for the remainder of the year.
Gold production from underground ore sources will only re-commence in January next year.
AngloGold said production for 2022, as the mine ramps up, is estimated to be about 240,000oz – 260,000oz at an all-in sustaining cost of approximately $1,250/oz to $1,350/oz, and with cash costs of $900/oz to $1,000/oz.
“We estimate that in the fourth quarter of next year, the annualised production rate will be about 320,000oz to 350,000oz a year, and we expect that the annual production will remain at around that level in 2022 and 2023 until the completion of Phase 3 in [the fourth quarter of] 2023, which we estimate will allow the mining rate to achieve the planned step-up to 5,000 tonnes per day,” it said.
“With all three phases of the project complete, production from 2024 to 2028 is anticipated to average 400,000oz to 450,000oz at an all-in sustaining cost of $900/oz to $950/oz.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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