EFFICIENCY INITIATIVES PRODUCING RESULTS
Executive Vice President –
“Lessons learnt at Geita are being applied at Obuasi... [where] we have the opportunity to become a lot more efficient and productive... and to turn it [Obuasi] into a modern operation.”Listen to podcast
AngloGold Ashanti has eight mining operations in its Continental Africa region:
- in Ghana, the Iduapriem and Obuasi operations;
- in Guinea, the Siguiri mine;
- in Mali, Morila, Sadiola and Yatela;
- in Namibia, Navachab; and
- in Tanzania, Geita.
Combined production from these operations increased by 5% to 1.57Moz of gold in 2011, equivalent to 36% of group production. Declines in production at the Siguiri, Obuasi, Yatela and Navachab operations were more than offset by increases at Geita, Iduapriem, Sadiola and Morila. Production at Geita rose by 38%.
Total cash costs increased by 7% to $765/oz, with Geita in Tanzania being the best performer on the cost front with a cash cost of $536/oz for the year. In all, these operations employed 16,539 people, including contractors, 778 more than in 2010.
Regrettably, three contractors were involved in fatal occupational accidents during 2011. The AIFR for the year was 3.03 per million hours worked, a significant improvement on the 6.09 recorded in 2009.
Total capital expenditure for the region was $420m, an increase of 79% on the $234m spent in 2010. The bulk of this was spent at the Obuasi and Iduapriem operations in Ghana, at Geita in Tanzania and Navachab in Namibia.
The total attributable Mineral Resource for the Continental Africa region was 66.05Moz at year-end and the attributable Ore Reserve, 23.49Moz.
AngloGold Ashanti also has an active greenfield exploration programme, principally in the DRC, focused on its Mongbwalu concession and the Kibali joint venture with Randgold Resources and the DRC government. This is in addition to brownfield exploration being conducted in and around existing operations. For further information on the group’s exploration programme in Continental Africa, see the Global exploration section of this report.
In 2011, the Continental Africa region progressed development of a transformation model to address sustainability issues that have previously affected the region. Sustainability Report ).