Gold Fields, AngloGold Ghana JV to create Africa’s biggest gold mine

GOLD

Fields and AngloGold Ashanti have agreed to merge thei

r Tarkwa and Iduapriem mines in Ghana to create Africa’s biggest gold mine, the two companies announced mid-March.

In a joint statement, the two miners said the deal would see Gold Fields and AngloGold owning 67 percent and 33 percent of the joint operation, respectively, excluding the 10 percent stake the Ghanaian government holds in Tarkwa.

The joint venture would produce an average 900,000 ounces annually over the first five years and 600,000 ounces over its estimated 18-year life of the mine, the companies said.