Companies plan to combine the two mines to create the largest gold mine in Africa.
Gold Fields and Anglogold Ashanti have paused their plan to merge the gold mines Iduapriem and Tarkwa in Ghana under a joint business, announced for the first time in March 2023.
Companies plan to combine the two mines to create the largest gold mine in Africa. According to the agreement, Gold Fields would have a 60 %participation, Anglogold Ashanti of 30 %and the Ghana government of 10 %.
Negotiations with regulators have stagnated since then and the Ghanaian authorities have not yet decided whether or not they will approve the joint company.
-“Companies have decided to pause the discussions around the joint company to allow them to concentrate on improving the current and independent performance in their respective sites,” said Anglogold in a statement.
Gold Fields echoed the same feeling and described the combination as “attractive”, but confirmed that both companies will now concentrate on independent operations.
It was projected that the joint gold company would produce an average of 900,000 ounces per year in its first five years, a figure that would be reduced to 600,000 ounces during a useful life of the 18 -year -old mine.
