Nov 12 2015
The Tropicana Gold Mine today celebrated production of its 1 millionth ounce on schedule, just over two years since pouring first gold.
"We poured first gold at Tropicana in September 2013 and the fact that the mine has produced its millionth ounce on schedule is testament to the hard work of everyone at the site and the support of our business partners," said Michael Erickson, Senior Vice President Australia.
Tropicana, located 330 kilometers east-northeast of Kalgoorlie in Western Australia, is owned by AngloGold Ashanti Australia Ltd (70% and manager) and Independence Group NL (30%). The operation achieved the 1 million ounce milestone in October, in line with expectations outlined in the Bankable Feasibility Study, which was approved in November 2010. Tropicana is the first mine outside of South Africa that AngloGold Ashanti has discovered and then brought into production, improving the company's global portfolio by bringing lower cost ounces into its production base.
AngloGold Ashanti Australia and Independence Group were joined by a number of the operation's business partners in a special celebration at the site today.
The operation produced 118,204oz (100%) at a total cash cost of US$500/ounce and all-in sustaining costs of $674/oz in the September 2015 quarter.
About AngloGold Ashanti
AngloGold Ashanti is a global gold mining company with a geographically diverse, world-class portfolio of operations and projects. Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the world's third-largest gold mining company, measured by production.
AngloGold Ashanti produced 4.4 million ounces of gold in 2014, generating US$5.2 billion in gold income, utilising US$1.2 billion in capital expenditure. All-in sustaining costs, which capture direct operating costs and sustaining capital, as well as corporate overheads and exploration, fell 13% to US$1,026 per ounce in 2014 compared with US$1,174 per ounce in 2013. All-in costs, which also include capital expenditure on projects, fell 22% over the same period, to US$1,148 per ounce from US$1,466 per ounce the previous year. These production, capital expenditure and operating costs cost figures include CC&V. As at 31 December 2014 (before the sale of CC&V) AngloGold Ashanti had an attributable Ore Reserve of 57.5 million ounces of gold and an attributable Mineral Resource of 232.0 million ounces of gold. For the year ended 31 December 2014 incurred interest costs of US$278 million.
Source: http://www.anglogoldashanti.com/