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Stock impact report

AngloGold Ashanti to increase production at Western Australia mine [Reuters]

AngloGold Ashanti PLC Ordinary Shares (AU) 
US:NYSE Investor Relations: anglogoldashanti.com/investors
Company Research Source: Reuters
AngloGold Ashanti to increase production at Western Australia mine | Reuters Reuters Staff 2 Min Read JOHANNESBURG (Reuters) - South Africa’s AngloGold Ashanti said on Thursday it will increase production and extend the life of its joint venture mine in Western Australia, under its strategy to develop more cost-effective methods of mining. The expansion at Tropicana Gold Mine, a joint venture between AngloGold Ashanti which holds a 70 percent interest and Independence Group NL, is expected to add 2.1 million ounces and extend the mine’s life by approximately seven years to 2027. By using a strip mining approach and reducing waste haulage distances by using in-pit backfill, the company said it had developed a more cost-effective way to mine waste. “This project is in line with our approach of developing cost-effective brownfield projects with attractive payback periods that extend life and improve margins,” said AngloGold Ashanti’s Australian Senior Vice President Michael Erickson. Ang Show less Read more
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