Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Kubi mining lease covers 1,960 ha and is located in the Adansi West District of the Ashanti Region of Ghana.
The deposit was first developed by local artisanal miners, with eight adits being driven in the 1920s. Between 1999 and 2004 the property was leased to AngloGold Ashanti, which trucked the ore to its nearby Obuasi plant from two small open-cut pits, recovering 58,696 ounces of gold from surface oxide ore grading 3.65 g/t gold. The government of Ghana retains a 10-per-cent free carried interest and International Royalty Corporation holds a 3-per-cent net-profits interest….more at Mine Developments
