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General News of Monday, January 28, 2019
Source: citinewsroom.com
2019-01-28
Kwasi Baffoe Intsiful
Kwasi Baffoe Intsiful, a lecturer at the Institute of Management and Public Administration of Ghana, GIMPA, said that the reopened AngloGold Obuasi mine might not offer the development expected by locals, especially in the area. 39, infrastructure of the region.
Speaking Saturday in the Citi TV / Citi FM news program, The Big Issue, Intsiful said the outlook was not as optimistic as it was. it appeared there because the mining in Obuasi had not resulted in any significant development of the city's infrastructure and economy.
This is because policymakers do not use mining revenues to develop mineral zones.
"I think we should slow down expectations. The president talks about development, so he has to do a lot of work, because if you look at the current legal framework, in terms of development, I do not see anything new, I see the same thing, if you look at Tarkwa, if you look at Prestea, it's the same because the paradigm has not changed, "he said.
He added that until changes were made in the areas mentioned, there will be no appropriate change in Obuasi to bring him to the vicinity of Johannesburg, South Africa.
On January 22, 2019, President Nana Akufo-Addo declared that the circumstances that led to the closure of AngloGold Ashanti Limited in Obuasi, in the Ashanti region, would no longer be reproduced under the control of her administration. .
He said that during the reopening of the AngloGold Ashanti gold mine, closed since 2014.
"I badure the management and staff of the mine that the sequence of events that led to the closure of the mine will no longer occur under the supervision of this government. The days of encroachment on the company's concession, as evidenced by the years 2010 to 2016, are over. "
The AngloGold Ashanti Obuasi mine closed in 2014 as it operated with a three-year development schedule.
Government Targets $ 2.2 Billion in Taxes from Reopening of AngloGold Ashanti Mine
The government is expected to receive about $ 2.2 billion in direct taxes on the reopened Anglogold Ashanti Gold Mine, if they achieve the goal of producing about 500,000 ounces of gold each year.
This follows the company's plan to also invest about 88 billion Ghc in its initial phase of redevelopment that will span more than two decades.
The total investment for the redevelopment of the Obuasi Gold mine is $ 1.6 billion for a 22-year period.
Speaking at Citi Breakfast Show, Eric Asubonteng, Chief Executive Officer of AngloGold Ashanti, said the company had restructured its business to reorganize its operations; it is therefore likely that these goals will be achieved to develop the country.
"So we are going to invest about $ 881 million over the initial period that we define as the first six years. From here, we would have put in place all the necessary infrastructure and investments for the remaining years. We are currently considering a life for myself for over 20 years. "
"On average, in the landmine, we expect between 400,000 and 500,000 ounces a year. On this basis, we estimate that US $ 5.3 billion will be kept in the country. This amount includes direct taxes paid to the government, support to local businesses, corporate social responsibility and other expenses. "
"The direct taxes paid to the government will rise to about 2.2 billion US dollars during this period.If you look at the total revenues that the mine will generate throughout its life, these 5.3 Millions of US dollars account for just over 51% of the revenue generated by the mine.The rest will go towards the repayment of initial capital investment, then the return of shareholders. "
Job Creation
In the meantime, it is expected that the recovery of the mining company's activities will also provide about 2,500 jobs.
Mr. Asubonteng also revealed that several other people would be employed on a temporary basis during production.
"Now that we have changed our extraction method in a mechanized and automated way, the number of employees we will be recruiting will no longer be high. But at an early stage of production, we expect the commitment of 2,000 to 2,500 people. The scale of production will certainly be higher than when we suspended our activities. We will then go through a construction period of about two years. During this period, other people will be hired temporarily on a short contractual basis. "
Redevelopment of the Obuasi mine
The redevelopment project is expected to last approximately 30 months, with a mine life of approximately 22 years to produce 400,000 ounces of gold per year.
The project phase also includes a redesigned underground mine, refurbished underground and surface infrastructure upgraded to support efficient operations.
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