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AngloGold Considers Gold Mine Venture in Australia
Western Australia , July 28, 2009 – Africa’s largest gold producer, AngloGold Ashanti Ltd., is studying a $426 million (AUD $520 million) mine development in Western Australia. It plans to have a venture partnership with Independence Group NL.
AngloGold already holds stakes in Australia’s Sunrise Dam. The Johannesburg-based company owns 70 percent stake in the Tropicana mine, which is located 330 kilometres northeast of Kalgoorlie.
Together with Independence, they have approved a study into the proposed development of the mine. The pre-feasibility study indicated a resource of 75.3 million tonnes grading at 2.07 grams/tonne (or a contained 5.01 million ounces). The project is expected to produce between 330,000 and 410,000 ounces of gold annually from 2013 to over a 10-year mine life.
On top of the Tropicana project, they are also said to be looking into another West Australian project, namely the Fortitude deposit. It likes within the Lake Carey gold project, 100 kilometres south of Laverton.
Source:
bloomberg.com
theaustralian.news.com.au
