Gold Fields, AngloGold Ghana JV to create Africa's biggest gold mine
Gold Fields and AngloGold Ashanti have agreed to merge their Tarkwa and Iduapriem mines in Ghana to create Africa's biggest gold mine, the two companies announced on Thursday, 16 March.
Source: Lynn Bendickson © 123RF.com
In a joint statement, the two miners said the deal would see Gold Fields and AngloGold owning 67% and 33% of the joint operation, respectively, excluding the 10% stake the Ghanaian government holds in Tarkwa.
The joint venture would produce an average 900,000 ounces annually over the first five years and 600,000 ounces over its estimated 18-year life of the mine, the companies said.