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Anglogold Ashanti PLC AU

Anglogold Ashanti PLC is a United Kingdom-based independent, global gold mining company. The Company is focused on a diverse portfolio of operations, projects and exploration activities across nine countries on four continents. The Company also produces silver (Argentina) and Sulfuric acid (Brazil) as by-products. The Company’s portfolio includes Africa, the Americas, and Australia. The Company’s operations include Kibali, managed by Barrick Gold Corporation, Ghana (Iduapriem and Obuasi), Guinea (Siguiri), Tanzania (Geita) and the DRC (Kibali). The Americas hosts three of the Company’s operations, one in Argentina and two in Brazil, as well as two greenfield projects in Colombia and a new greenfield development in Nevada in the United States. Australia hosts two of the Company’s operations, which are Sunrise Dam and Tropicana, both in the north-eastern goldfields in the state of Western Australia. The Company is also advancing exploration activities in the Oko project in Guyana.


NYSE:AU - Post by User

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Post by scissors14on Dec 02, 2016 10:07am
317 Views
Post# 25545739

Zonte Sues Over Gramalote

Zonte Sues Over GramaloteCanadas Zonte sues Colombia authorities over gold permit rejection Cecilia Jamasmie Gramalote hill, by B2Gold and AngloGold Ashanti's namesake gold project. (Image: B2Gold) Canadian junior explorer Zonte Metals (TSX-V: ZON) is going ahead with plans to sue Colombias Department of Antioquia as it claims the mining authority did not process its exploration application in accordance with the countrys mining code. Authority says wanted area is too small to become a mineand that it would interfere with AngloGold and B2Golds Gramalote project. The move comes more than two years after Halifax-based Zonte first spotted and applied for a licence to mine an area that sits on top of partnersAngloGold Ashanti (NYSE: AU) andB2Golds (TSX: BTO) Gramalote gold deposit. According to Antioquias secretary of mines, the area in dispute which measures 0 less than 30 hectares is too small to become a mine, and Zontes application would interfere with AngloGold and B2Golds project, which has actually been frozen since 2014. Zonte argues there is no minimum size on land applications specified anywhere in Colombias mining code and that there have been several applications accepted where the total area of exploration was significantly smaller, including a recently issued title covering less than 0.1 hectares. Zonte first considered applying for a Colombian land title in 2013, after identifying a number of narrow gaps between title areas otherwise known as fractional claims sitting across Gramalote, once touted as Colombias first modern commercial scale gold project. After the rejection, Zonte sought the help of a legal counsel headed by a former director at Colombias secretary of mines and its now proceeding with legal actions. The project would sit on top of the Gramalote deposit and surrounding areas. (Courtesy of Zonte Metals) The company has also responded to an AngloGold Ashanti representative who during a recent presentation about Gramalote said the fractional claims sitting over the deposit were just stories in the media. Zonte wants to make it clear that these open areas were confirmed by the Secretary of Mines in formal documentation from their review of the application, it said in the statement. The company has high hopes for its project, as the adjacent Gramalote,located 110km northeast of Medellin, in the department of Antioquia,is said to hold 2.69 million ounces of gold within 132.7 million measured and indicated tonnes grading 0.63 g gold per tonne, and 3.36 million ounces of the precious metal within 239.7 million inferred tonnes grading 0.44 g gold.
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