Teck invests in Armenia explorer Fremont Gold
Teck has acquired a 6.89% ownership of the junior explorer.
AngloGold Ashanti said it expects its Obuasi gold mine in Ghana to produce about 350,000 to 400,000 ounces per year for the first ten years, after achieving its first gold pour since it was suspended five years ago.
The initial capital expenditure for the mine, which has been in the process of redevelopment since last year, remains in the range of $495 million to $545 million, the company said on Thursday.
“Following a ramp-up period, AngloGold Ashanti estimates mining at a rate of 2,000 tons per day from Obuasi during 2020, climbing to 4,000 tons per day by year-end,” it said.
(By Yadarisa Shabong; Editing by Edmund Blair)
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