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By
Reuters
Published
Jul 14, 2009
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AngloGold resumes exports of gold from Guinea mine

By
Reuters
Published
Jul 14, 2009

JOHANNESBURG, July 14 (Reuters) - AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile, Research), the world's No. 3 gold producer, said on Tuesday 14 July it had resumed exports from its mine in Guinea after the government lifted the ban on exports last month.


Gold mining at Siguiri, Guinea - Photo: AngloGold Ashanti Ltd

Production at the Siguiri mine was uninterrupted during the period of the imposed gold export embargo, the company said.

"A temporary embargo on the export of gold was lifted at the end of June, allowing a month's worth of production to be shipped from the country during the first week of July," it said in a statement.

AngloGold said it had agreed to advance $10 million for the environmental rehabilitation of the mine, subject to the condition that the payment be offset against the balance of AngloGold future environmental liabilities.

The company said the mine, in which the government of Guinea holds a 15 percent stake, produced 333,000 ounces of gold in the course of 2008 and 88,000 ounces in the first quarter of 2009.

(Reporting by Agnieszka Flak)

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