Gold Fields and AngloGold Ashanti propose Ghana JV to create Africa's largest gold mine

Rhea-AI Summary

Gold Fields and AngloGold Ashanti announced a proposed joint venture in Ghana to merge their Tarkwa and Iduapriem mines, aiming to create Africa's largest gold mine. This strategic collaboration is expected to enhance operational efficiencies and lower production costs. The agreement signifies a significant step in consolidating resources, with both companies looking to capitalize on Ghana's rich gold mining sector. The partnership is anticipated to boost overall gold production and improve competitive positioning in the market.

Positive

• Proposed joint venture aims to create Africa's largest gold mine.
• Strategic collaboration expected to enhance operational efficiencies.
• Potential for lower production costs through combined resources.

Negative

• None.

JOHANNESBURG, March 16, 2023 /PRNewswire/ -- Gold Fields and AngloGold Ashanti ("The Parties") have agreed the key terms of a proposed joint venture in Ghana between Gold Fields' Tarkwa and AngloGold Ashanti's neighbouring Iduapriem mines (the "Proposed Joint Venture").

Full media release is available on the company website:

www.goldfields.com

Enquiries

Gold Fields Limited
Investors
Avishkar Nagaser
Tel:  +27 11 562-9775/ +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.co.za

Media
Sven Lunsche
Tel:  +27 11 562-9763/ +27 83 260 9279
Email :  Sven.Lunsche@goldfields.co.za

Emma Morrison
Tel:  +233 302 770189/ +233 241 391 466
Email :  Emma.Morrison@goldfields.co.za

AngloGold Ashanti Limited
Investors
Yatish Chowthee
Tel:  +27 11 637 6273 / +27 78 364 2080
Email: yrchowthee@anglogoldashanti.com

Media
Andrea Maxey
Tel:  +61 08 9425 4603 / +61 400 072 199
Email: amaxey@anglogoldashanti.com

Eric Asubonteng
Tel:  +233 50 127 4388
Email: EAsubonteng@anglogoldashanti.com

View original content:https://www.prnewswire.com/news-releases/gold-fields-and-anglogold-ashanti-propose-ghana-jv-to-create-africas-largest-gold-mine-301773950.html

SOURCE Gold Fields Limited

FAQ

What is the proposed joint venture between Gold Fields and AngloGold Ashanti?

Gold Fields and AngloGold Ashanti have proposed a joint venture to merge their Tarkwa and Iduapriem mines in Ghana.

When was the announcement of the Gold Fields and AngloGold Ashanti joint venture made?

The announcement was made on March 16, 2023.

What are the expected benefits of the Gold Fields and AngloGold Ashanti joint venture?

The joint venture is expected to enhance operational efficiencies and lower production costs.

What is the stock symbol for Gold Fields?

The stock symbol for Gold Fields is GFI.

What will the joint venture between Gold Fields and AngloGold Ashanti create?

The joint venture aims to create Africa's largest gold mine.