AngloGold Ashanti plc and Gold Fields have decided to suspend talks on their proposed joint venture aimed at merging the Iduapriem and Tarkwa gold mines in Ghana.

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The mining giants first announced plans for the collaboration in March 2023, intending to create a more efficient and productive operation by combining the two neighbouring sites.

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Since then, both companies have engaged extensively with the Government of Ghana to secure the necessary regulatory approvals.

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However, AngloGold Ashanti has since revised its development strategy for the Iduapriem mine, identifying new opportunities within its standalone operations that promise to deliver increased long-term value.

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As a result, both companies have chosen to shift focus toward enhancing the performance of their individual mining operations rather than proceeding with the joint venture for now.

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Located about 70 kilometres north of Takoradi and just 10 kilometres from Gold Fields’ Tarkwa mine, Iduapriem has been in operation since 1992 and came under AngloGold Ashanti’s control following its 2002 merger with Ashanti Goldfields. In 2024, the mine produced 237,000 ounces of gold at a total cash cost of $1,118 per ounce.

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While the joint venture remains paused, both companies have indicated that optimizing existing assets will remain their top priority in the near term.

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PR-170-ANGLOGOLD-ASHANTI-PLC-ANGLOGOLD-ASHANTI-AND-GOLD-FIELDS-AGREE-TO-PAUSE-PROPOSED-GHANA-JV-DISCUSSIONS2Download

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