Unconfirmed reports suggests that Anglogold Ashanti, a leading gold producing company in Ghana has gone belly-up.
According to sources, the company is not yielding the expected dividend due to activities of illegal miners and low production.
The company which used to be the biggest gold mining concern in Ghana and the leading employer in the industry with about 8,500 workers is reported to have laid off over 3000 of its workers.
Mr. Mark Macomb, Senior Vice President of Anglogold Ashanti, last year (2013) admitted that the Mine was facing challenges.
Lands & Natural Resources Minister, Inusah Fuseini also hinted in an interview last year (2013) that the mine could be shut down if management of the company does not adopt a comprehensive plan for the future of the Mine.
However, most of the measures the company adopted to save the situation yielded no fruits.
More details soon.