AngloGold Ashanti's Western Australia mine comes into production

0:00
play article
Subscribers can listen to this article

AngloGold Ashanti's Boston Shaker mine in Western Australia has began production, the company announced on Thursday.

Commercial production at the underground mine located in Tropicana kicked-in this month, and the site is expected to deliver about 1.1 million tonnes of ore per annum, adding approximately 100,000 ounces per annum to gold production over a seven-year mine life. Construction was concluded below the $77 million (R1.2 billion) budget. 

AngloGold Ashanti, which recently sold its last remaining gold asset in South Africa, owns and manages a 70% stake in the Australian mine.

"Underground mining at Boston Shaker will leverage further value from this high performing operation, achieving payback in just over three years with upside potential as the deposit remains open at depth," AngloGold Ashanti Senior Vice President, Michael Erickson.

Development of the Boston Shaker mine was approved in March 2019.

The mining company concluded the sale of its Mponeng mine, the world's deepest gold mine to Harmony Gold, in a R4.4 billion deal.

*Compiled by Sibongile Khumalo


We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
16.38
(-0.24)
ZAR/GBP
21.16
(+0.03)
ZAR/EUR
19.14
(-0.16)
ZAR/AUD
11.52
(-0.01)
ZAR/JPY
0.16
(-0.46)
Gold
1870.09
(+0.10)
Silver
23.23
(-0.14)
Platinum
852.00
(+0.41)
Brent Crude
38.07
(-3.48)
Palladium
2214.00
(+0.61)
All Share
51896.97
(-0.79)
Top 40
47576.46
(-0.74)
Financial 15
9756.70
(-2.69)
Industrial 25
72681.12
(-0.25)
Resource 10
47826.96
(-0.63)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
23% - 135 votes
No, I did not.
50% - 290 votes
My landlord refused
26% - 151 votes
Vote