Obuasi Gold Mine

The Obuasi Gold Mine is an underground gold mine situated near Obuasi, in the Ashanti Region of Ghana. It was at one time one of the world's ten largest gold mines.[2] The mine is in Obuasi Municipal District, 60 kilometres (37 mi) southwest of the regional capital Kumasi.[3]

Obuasi Gold Mine
Location
Obuasi is located in Ghana
Obuasi
Obuasi
Location in Ghana
LocationObuasi
MunicipalityObuasi Municipal District
CountryGhana
Coordinates06°08′53″N 01°41′30″W
Production
ProductsGold
Production127,000 ounces
Financial year2020[1]
TypeUnderground
History
Opened1897
Active1897-2014; 2019-
Owner
CompanyAngloGold Ashanti
WebsiteAngloGold Ashanti website

In 2008, AngloGold Ashanti's Ashantiland operations, consisting of Obuasi and the Iduapriem Gold Mine, contributed 11% to the company's annual production. At its temporary closure in 2014 Obuasi had past gold production plus current resource of 62 million troy ounces[4].[5]

History

There is a long history of mining in the area, with mining from the Ashanti region providing the gold for which the Gold Coast got its name. Large scale commercial and industrial mining began at Obuasi in 1897 with the formation of Ashanti Goldfields Corporation.[6]

In 2004, Ashanti Goldfields merged with AngloGold to form AngloGold Ashanti. Following significant losses, mining activities were halted in late 2014, with over 5,000 employees laid off and the mine placed in care and maintenance. During this time a large security force remained on site due to heavy pressure from local illegal miners. In 2016 an Obuasi employee was killed by a mob of illegal miners.[7][8]

In 2018, after approvals were received from the Ghanaian Government, the decision was taken to recapitalize the Obuasi gold mine, with work beginning in 2019. The newly mechanized mine commenced commercial production on October 1, 2020, with its first gold pour in December 2019. It is expected to be fully operational in 2022.

[1]

Production

Production figures of the recent past were:

Year Production
(troy ounces)		 Grade
(g/t)		 Cash Cost
(US$ per ounce)
2002[9] 537,219 4.84 198
2003[9] 513,163 4.28 217
2004[10] 255,000 5.27 305
2005[10] 391,000 4.77 345
2006[11] 387,000 4.39 395
2007[12] 360,000 4.43 459
2008[12] 357,000 4.37 633
2009[12] 381,000 5.18 630
2010[13] 317,000 5.16 744
2011[13] 313,000 4.82 862
2012[13] 280,000 4.79 1,187
2013[13] 239,000 4.94 1,406
2014[13] 243,000 4.67 1,086
2019[1] 2,000
2020[1] 127,000 6.47 1,145
  • The 2004 results are for the eight months from May to December only
  • The 2019 results are from the December startup only

See also

References
  1. "Three-year summary statistics 2020 (financial, operational and sustainability)" (PDF). Johannesburg: AngloGold Ashanti Limited. 26 March 2021. p. 8. Retrieved 1 February 2022.
  2. "World's top 10 gold deposits". 7 August 2013. Retrieved 5 August 2015.
  3. "An Economic History of the Ashanti Goldfields Corporation" (PDF) (PDF). Retrieved 5 August 2015.
  4. "AngloGold Suspends Operations at Iduapriem | E & MJ". www.e-mj.com. Retrieved 2023-07-29.
  5. Fougerouse, Denis (July 2015). "Geometry and genesis of the giant Obuasi gold deposit, Ghana" (PDF). Crawley, WA: University of Western Australia. Retrieved 1 February 2022.
  6. Obuasi Gold Mine, Ghana Archived 2011-07-07 at the Wayback Machine ayiajavon.com, accessed: 9 August 2010
  7. Future of Obuasi There are a number of links on this page to history and news. Accessed April 12, 2016
  8. Nicholas Bariyo and Alexandra Wexler (April 11, 2016). "Fortune Hunters Endanger Africa's Abandoned Mines Fights break out as the commodities rout forces mining companies to close shafts". The Wall Street Journal. Retrieved April 12, 2016. In Ghana, AngloGold Ashanti Ltd., the world's No. 3 gold producer, closed shafts at its Obuasi mine in late 2014, as the mine hemorrhaged cash amid sinking metals prices. Early this year, hundreds of men broke through the 13-mile fence around Obuasi and started prospected for gold there on their own.
  9. Ashanti Annual Report 2003 Archived 2006-10-24 at the Wayback Machine accessed: 10 August 2010
  10. Annual Report 2005 Archived 2011-07-19 at the Wayback Machine AngloGold Ashanti website, accessed: 9 August 2010
  11. Annual Report 2006 Archived 2011-07-07 at the Wayback Machine AngloGold Ashanti website, accessed: 9 August 2010
  12. "Annual Financial Statements 2009" (PDF). Johannesburg: AngloGold Ashanti Limited. 30 March 2010. p. 44. Retrieved 1 February 2022.
  13. "2014 Integrated Report". Johannesburg: AngloGold Ashanti Limited. 31 March 2015. Retrieved 1 February 2022.
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