Friday 22nd June, 2018
Accra,
June 22, GNA – AngloGold Ashanti has described the ratification of the Development Agreement and the Tax Concession Agreement by Parliament as an
important step towards the progress of Obuasi’s redevelopment.
“This
is an important milestone that follows extensive negotiations and debate,” a
statement from the company quoted the Chief Executive Officer, Srinivasan
Venkatakrishnan, a
Accra,
June 22, GNA – AngloGold Ashanti has described the ratification of the Development Agreement and the Tax Concession Agreement by Parliament as an
important step towards the progress of Obuasi’s redevelopment.
“This
is an important milestone that follows extensive negotiations and debate,” a
statement from the company quoted the Chief Executive Officer, Srinivasan
Venkatakrishnan, as saying.
The
Board of Directors had approved spending of US$31 million, in February 2018,
for front-end engineering and other preparatory work for the mine’s
redevelopment.
“Obuasi
is a high-grade, long-life ore body that will provide production for at least
two decades at a very competitive cost, which will benefit a truly diverse set
of stakeholders”, he added.
He
applauded the government for providing leadership that “produced an equitable
outcome to benefit the national, regional and local economies”.
The
statement also said the environmental permitting process was at an advanced
stage.
GNA