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Business News of Friday, 7 November 2014

Source: GNA

AngloGold in ongoing negotiations with gov’t

AngloGold Ashanti Ghana Ltd (AGA) has refuted media reports that it has sacked 5,300 of its workers.

The company has also denied speculations that it is shutting down its mine on 14th November, 2014.

A release from the company’s Management copied to the Ghana News Agency (GNA) on Thursday explained that in compliance with the mining and minerals law, AGA had early this year submitted to Government and regulatory agencies, its Amended Programme of Mining Operations (APMO) which sought to address key challenges facing the Obuasi mine and provide a roadmap to ensure its future viability.

“The proposed amendment includes undertaking downsizing operations to ensure sustainability.

This involves some level of retrenchment of staff.

Feasibility studies will also be undertaken. In connection with this, discussions are currently on going with Government and regulatory agencies”, the release stated.

It said AGA had to date shared the challenges of the Obuasi mine and the critical need for its transformation, with all its key stakeholders, it said, adding that AGA was also in continued dialogue with workers, Ghana Mine Workers Union and the community to ensure that actions taken had their input and were in the best interest of the Obuasi mine and all concerned.

“We wish to assure all stakeholders that any decision on the APMO concluded with Government on the future of the Obuasi mine will be promptly shared with them.

The company requests the media to exercise restraint in putting out stories with no factual basis on the ongoing process”, the release stated.