Gold Fields keeps the drama coming
With its joint venture with AngloGold in Ghana on ice for now, can the miner hit its expansion stride in Australia?
So much for Africa’s largest gold mine, the sobriquet given to a joint venture (JV) in Ghana between Gold Fields and AngloGold Ashanti. Unveiled in March 2023, the aim was for the neighbouring Tarkwa and Iduapriem mines to share infrastructure, increase production to 900,000oz a year and cut costs.
More than two years later, AngloGold announced it was “pausing” the unconsummated arrangement. Publicly, it says Iduapriem might be better as a standalone mine after all. AngloGold CEO Alberto Calderon told analysts last week that the gold price had very little to do with this decision. But there are reasons to doubt that...
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