AngloGold to expand Western Australia mine, boosting production

SA's AngloGold Ashanti said on Thursday that it will increase production and extend the life of its joint venture mine in Western Australia, under its strategy to develop more cost-effective methods of mining.

TheA$48m (about $36m) expansion of the mine, in which AngloGold has a 70% stake and Independence Group NL holds the remaining 30%, is expected to add 2.1 million ounces and extend the mine's life by approximately seven years to 2027.

This phased approach provides optionality, and the flexibility to adjust to prevailing economic conditions AngloGold said.

Tropicana, which is jointly owned by AngloGold Ashanti Australia (70 per cent) and Independence Group, is the state's third largest gold mine, with production of 432,00oz past year.

AngloGold forecasts gold production at the mine of as much as 492,000oz next year and at least 530,000oz in 2019.

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