Obuasi Gold Mine
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.
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.
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.
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.
Production
Production figures of the recent past were:
| Year | Production (troy ounces) |
Grade (g/t) |
Cash Cost (US$ per ounce) |
| 2002 | 537,219 | 4.84 | 198 |
| 2003 | 513,163 | 4.28 | 217 |
| 2004 | 255,000 | 5.27 | 305 |
| 2005 | 391,000 | 4.77 | 345 |
| 2006 | 387,000 | 4.39 | 395 |
| 2007 | 360,000 | 4.43 | 459 |
| 2008 | 357,000 | 4.37 | 633 |
| 2009 | 381,000 | 5.18 | 630 |
| 2010 | 317,000 | 5.16 | 744 |
| 2011 | 313,000 | 4.82 | 862 |
| 2012 | 280,000 | 4.79 | 1,187 |
| 2013 | 239,000 | 4.94 | 1,406 |
| 2014 | 243,000 | 4.67 | 1,086 |
| 2019 | 2,000 | ||
| 2020 | 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