AngloGold Ashanti and Gold Fields have decided to temporarily halt discussions regarding a potential joint venture (JV) that would combine their Iduapriem and Tarkwa gold mines in Ghana.
The move will allow both companies to concentrate on enhancing their respective mines’ stand-alone performances.
Since proposing to combine the neighbouring mines in March 2023, AngloGold Ashanti has discovered opportunities within its Iduapriem mine plan that could unlock significant value.
Halting the JV talks will provide the opportunity to focus on these improvements, enabling AngloGold Ashanti to refine its long-term mining plan, which is currently considered the most valuable option.
Iduapriem, an open-pit mine in the western region of Ghana, has been under AngloGold Ashanti’s ownership since 2002.
Located approximately 70km north of Takoradi and 10km south-west of the Tarkwa mine, Iduapriem produced 237,000oz of gold in 2024 at a total cash cost of $1,118/oz.
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By GlobalDataIn related news, Kincora Copper has revised its earn-in and JV agreement with AngloGold Ashanti Australia, a subsidiary of AngloGold Ashanti.
This amendment will facilitate up to A$100m ($64.7m) in total expenditure for a second JV in Australia’s Northern Junee-Narromine Belt, known for its potential to host significant porphyry deposits.
The agreement includes the Nyngan South, Nevertire South and Mulla projects.
Additionally, Gold Road Resources recently announced an agreement to sell all of its issued and outstanding shares to Gruyere Holdings, a fully owned subsidiary of Gold Fields, for A$3.7bn.
Under the terms of the deal, shareholders will receive A$3.40 per share in cash, which places Gold Road’s enterprise value at roughly A$2.6bn.
This acquisition will give Gold Fields full ownership of the Gruyere mine in Western Australia, where it currently holds a 50% interest through a JV.
