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Friday, 28th April 2006 (3967 views)

AngloGold Ashanti expects yearly output at its Obuasi gold mine to increase to 450,000 ounces in the next three years, Reuters reports.

This is down to an investment programme at the 100-year-old gold mine. AngloGold spokesman Robbie Lazare said: "It is going to produce 415,000 ounces this year. In the next three years it could potentially build up to 450,000 ounces."

In the late 1990s the mine was producing more than 500,000 ounces per year and Mr Lazare said that production could even increase to 600,000 ounces in five years' time.

New exploration at the Obuasi mine takes place at depths of up to 3,048 metres. The investment has come about because of a recent takeover by AngloGold of Ashanti Goldfields. However, significant production at these depths will not happen for around five years.

 

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