Monday, 13th December 2004 (2739 views)

South Africa's AngloGold Ashanti has announced it has signed an exploration deal with Australia's Oxiana to explore for hold in Laos.

The alliance is part of a growth strategy at AngloGold, as it attempts to assess opportunities in prospective but under-explored new frontier regions.

According to Interactive Investor, Oxiana already mines gold in Laos and this deal follows an investment in Russia's Trans-Siberian Gold and a venture with Red 5 in the Philippines.

AngloGold hopes to further unlock the gold potential of Laos, since it claims although it is highly prospective for the precious metal so far it has been under explored.

The companies will work together using AngloGold's technical expertise and Oxiana's in-depth country knowledge and operating experience.

 

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