Obuasi Mine has additional 25 years lifespan

Obuasi, June 10, GNA - The Obuasi Mine may have additional 25 years life span, should AngloGold Ashanti (Obuasi) overcome its present challenges, Mr. John Miller, the Managing Director, has said. Some of the challenges include the return of the mine to profitability, addressing the legacy of social and environmental problems and overcoming threats to operations, including illegal mining (galamsey).

Mr. Miller, who was giving a presentation on the mine during the visit to the Mine by the members of the Parliamentary Select Committee on Mines and Energy, said improving community engagement and participation also formed part of the challenges that needed to be addressed.

"Obuasi can have a great future when the challenges are addressed", he said, adding; "we have to work for it". The Managing Director also said an Obuasi Turnaround Plan had been adopted to prepare the mine for the future operations and that the Plan would require additional investment of 44 million dollars this year and 135 million dollars over three years.

Mr. Miller stated that, in addition to capital, the process would also require additional human resources and training, adding that communication programme had already started and was progressively expanded from the core areas to other parties. The Parliamentary Select Committee led by the chairman, Mrs Gifty Kusi, was particularly concerned about the stability agreement and demanded the commitment of the company on it so far. The MPs, as part of their visit, toured the company's acquaculture project at Homase. 10 June 08