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Friday, 20th April 2007 (3120 views)

One of the world's largest gold miners, AngloGold Ashanti, has declared that it is to pump a total of $30 million (£14.98 million) into operations in Columbia.

The investment will serve the purpose of discovering a "world class metal deposit", according to the chief geologist at the company's subsidiary, Kedahda SA, Ruben Padilla.

South Africa-based AngloGold Ashanti has already spent around $45 million in the South American country since 2004 and a range of different sites will be focused on in order to for the company to reach its intended goal.

This announcement by AngloGold Ashanti follows last month's declaration that it was to actively pursue a number of projects across the world, including the Democratic Republic of Congo and South Africa.

At present, the largest gold producer in Columbia is Mineros de Antioquia SA, which AngloGold has shares in.

Furthermore, the Columbian government is expected to auction exploration rights to various areas in July, according to the website metalsplace.com.

 

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