AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents. The company is listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses.In 2008, AngloGold produced 4.98 million ounces of gold from its operations, estimated to be seven percent of the global production. In 2009, the company's gold output dropped to 4.6 million ounces. Wikipedia.
Ramazan S.,AngloGold Ashanti |
Dimitrakopoulos R.,McGill University
Optimization and Engineering | Year: 2013
The annual production scheduling of open pit mines determines an optimal sequence for annually extracting the mineralized material from the ground. The objective of the optimization process is usually to maximize the total Net Present Value (NPV) of the operation. Production scheduling is typically a Mixed Integer Programming (MIP) type problem containing uncertainty in the geologic input data and economic parameters involved. Major uncertainty affecting optimization is uncertainty in the mineralized materials (resource) available in the ground which constitutes an uncertain supply for mine production scheduling. A new optimization model is developed herein based on two-stage Stochastic Integer Programming (SIP) to integrate uncertain supply to optimization; past optimization methods assume certainty in the supply from the mineral resource. As input, the SIP model utilizes a set of multiple, stochastically simulated scenarios of the mineralized materials in the ground. This set of multiple, equally probable scenarios describes the uncertainty in the mineral resource available in the ground, and allows the proposed model to generate a single optimum production schedule. The method is applied for optimizing the annual production scheduling at a gold mine in Australia and benchmarked against a traditional scheduling method using the traditional single "average type" assessment of the mineral resource in the ground. In the case study presented herein, the schedule generated using the proposed SIP model resulted in approximately 10% higher NPV than the schedule derived from the traditional approach. © 2012 The Author(s).
Kabete J.M.,AngloGold Ashanti |
McNaughton N.J.,Curtin University Australia |
Groves D.I.,Canaco Resources Inc. |
Mruma A.H.,Geological Survey of Tanzania
Precambrian Research | Year: 2012
Reconnaissance U-Pb sensitive high-resolution ion microprobe (SHRIMP) zircon dating of gneisses, granitoids and greenstones from well-documented study areas within the Tanzania Craton indicates that: (1) ~2815-2691 Ma greenschist-amphibolite facies greenstones and associated granitoids are confined within extensive >3600 Ma granitoid-gneisses in the Central Tanzania Region; (2) greenschist-amphibolite facies greenstone rocks from the Singida-Mayamaya Terrane in the south-eastern Lake Nyanza Superterrane, Lake Victoria Region are older than 2681 Ma; (3) greenschist to lower-granulite facies granitoid-greenstone belts from the Kilindi-Handeni Superterrane, within the largely Neoproterozoic Southern East African Orogen are older than 2670 Ma; and (4) the granitoid-greenstone belts within the Dodoma Basement Superterrane, Central Tanzania Region and Kilindi-Handeni Superterrane, Southern East African Orogen are broadly coeval with ~2823-2671 Ma granitoid-greenstone belts in the Lake Nyanza Superterrane, in the Lake Victoria Region.The basement to juvenile greenstone rocks in the Central Tanzania Region includes E-W-trending orthogneisses. These comprise largely >3140 Ma diorite to granodiorite gneisses with rafts and/or tectonic enclaves of supracrustal rocks, including ~3600 Ma fuchsitic sericite quartzite, which forms part of the ~25. km by 5. km Simba-Nguru Hills in the Undewa-Ilangali Terrane. This quartzite contains detrital 4013-3600 Ma zircons that define ancestral cycles of protracted magmatism in their as yet undetected source terranes.In addition to the ~2815-2670 Ma granitoids and greenstones in the >3000 Ma gneisses and granitoids within the widely accepted marginal zone of the Tanzania Craton, the Lake Nyanza Superterrane extends east into the Kilindi-Handeni Superterrane, in the largely Neoproterozoic Southern East African Orogen. In this Superterrane, Neoarchean igneous and sedimentary rocks in the Mkurumu-Magamba Terrane record ~620-603 Ma amphibolite-granulite facies metamorphism, ~585-575 Ma partial-melting, and emplacement of enderbitic-charnockitic granitoids. They also record a short-lived, but significant, 570-560 Ma period of exhumation and emplacement of high-grade metamorphic rocks on to basement rocks of the proto-Archean craton within the Central Tectonic Zone in the Southern East African Orogen. © 2012 Elsevier B.V.
News Article | March 4, 2016
Former goldmine workers have won a $32 million settlement from South African mining giants Anglo American and AngloGold Ashanti over respiratory diseases contracted underground, lawyers said Friday.
News Article | November 4, 2015
BOGOTA (Thomson Reuters Foundation) - The Colombian government must ensure indigenous and Afro-Colombian communities uprooted by warring factions can return home and have a greater say in how their lands are developed, rights group Amnesty International said. Over five decades of conflict, more than six million Colombians have been forced off their land by fighting among Marxist rebels, right-wing paramilitaries and government troops, government figures show. The issue of how to return stolen and abandoned land to its rightful owners is a key talking point at peace talks in Cuba between the government and the rebel Revolutionary Armed Forces of Colombia (FARC). Displaced communities wanting to return also face the problem of exploitation by mining companies, according to a report published by Amnesty on Wednesday. "Any peace deal will be meaningless unless the rights of Indigenous and Afro-descendant communities to return to their lands and decide how they are used are prioritized above companies' desire to exploit those lands for their own profit," said Erika Guevara, Amnesty's Americas director, in a statement. At least eight million hectares of land - some 14 percent of Colombian territory – have been abandoned or illegally acquired through fraud, violence or extortion, the report said. Most of those affected are farming, indigenous and Afro-Colombian communities who earn their living from their land and whose land is rich in resources. Displaced people who owned their land are eligible to claim it back under a historic land restitution law passed in 2011. The law, a crucial reform of the government of Juan Manuel Santos, aims to return millions of hectares of stolen land to its rightful owners and to enable displaced people to return home and claim reparations. The law is a "significant step forward," but land return is plagued by problems ranging from bureaucracy to intimidation, including death threats against claimants, Amnesty said. "Nearly four years since the process began ... only a relatively small proportion of such lands have been returned to their rightful occupants," the report said. Ricardo Sabogal, who heads the government entity charged with overseeing land restitution, said the government has handed back 173,000 hectares of land benefiting about 20,000 Colombians. "It's not easy to push ahead with a process of land restitution in the middle of a conflict," Sabogal told the Thomson Reuters Foundation in an interview. "That's why peace is so important, so that families can go back quickly and safely to their lands." He said ensuring displaced people return to their lands is also made difficult because of landmines, mostly planted by FARC rebels, littering parts of the countryside. Since 2000, successive governments have granted licenses to local and international mining and other companies looking to tap into Colombia's mineral and oil resources, the report said. The economy is driven by commodity exports, and the country is Latin America's fourth largest oil producer. By law, companies planning projects must first consult communities living on or using the land they want to exploit. Amnesty said it had written to several companies with mining projects on lands where indigenous communities live. In response mining company AngloGold Ashanti, which operates gold mines in western Choco province, told Amnesty it was committed to the "lawful consent of indigenous communities" for projects on lands traditionally owned or used by ethnic groups "and are likely to have a significant impact on these groups." But Amnesty said in general licenses have often been granted to companies which have not consulted communities nor obtained their free and informed consent. "Unless the authorities can ensure that these rights are effectively respected as a matter of urgency ... it risks leaving one of the principal causes of the armed conflict unresolved. This could have serious repercussions for the long-term viability of any eventual peace agreement," the report said. Read the original article on Reuters. Copyright 2015. Follow Reuters on Twitter.
News Article | February 23, 2015
AngloGold Ashanti Ltd., the world’s third-largest gold miner, is under no pressure to sell assets and will only do so for “full value,” Chief Executive Officer Srinivasan Venkatakrishnan said. The partial or full sale of one of the company’s key operating assets “is being looked at and progressed,” Venkatakrishnan said on a conference call on Monday. That forms part of the Johannesburg-based company’s plan to cut net debt by about $1 billion over the medium term. “What we are not going to be doing is a fire sale of assets,” he said. “The shop is closed for bargain hunters. If we don’t get full value, we won’t sell.” AngloGold is seeking to sell mines or share capital costs with partners in a bid to reduce its $3.1 billion of net debt, partly accumulated during the decade-long bull run in gold to 2011. The company shelved a plan to split its South African operations from international assets in September when investors including hedge-fund billionaire John Paulson balked at the size of an accompanying $2 billion share sale. AngloGold’s shares dropped as much as 8.7 percent, the most in more than two months, and traded down 6.7 percent to 127.52 rand as of 1:20 p.m. in Johannesburg. Gold fell 0.7 percent to $1,193.63 an ounce in London, while the five-company FTSE/JSE Africa Gold Mining Index declined 4.5 percent. Venkatakrishnan said he wouldn’t be naming which assets could be sold because “these are operating mines and also there are various stakeholders involved.” AngloGold is also seeking partners for its Obuasi mine in Ghana and Colombian exploration assets. AngloGold is gauging interest from other bullion producers and “non-conventional players” that want exposure to bullion, “particularly given the uncertainty that still exists on how reliable the U.S. recovery is,” Venkatakrishnan said. A total of 50 deals totaling more than $2 billion were reported in 2014 by private interests in the mining sector, according to analysis released this month by law firm Berwin Leighton Paisner. Gold was the most popular for deal-makers with a total of 15 transactions completed. AngloGold posted a headline loss, which excludes one-time items, of $71 million, or 17 cents a share, in the three months to Dec. 31, compared with a profit of $44 million, or 11 cents, in the preceding quarter, the company said in a statement on Monday. AngloGold incurred $147 million of costs relating to job cuts and other restructuring at Obuasi in the fourth quarter, it said. The company joined other gold producers in paying for accounting losses at Rand Refinery, South Africa’s biggest bullion-processing plant. AngloGold contributed $44 million. Gold produced climbed 2 percent to 1.16 million ounces in the quarter, while all-in sustaining costs declined 2 percent to $1,017 an ounce. AngloGold’s net debt was $3.1 billion at the end of 2014, or 1.9 times earnings before interest, taxes, depreciation and amortization. That’s up from $2.95 billion at the end of the third quarter and about the same as a year ago.