AngloGold’s Colombian projects progress well

At AngloGold Ashanti’s fully owned Quebradona project, the Feasibility Study (FS) continues to progress. The operations team is continuing with construction readiness, environmental impact assessment (EIA) permitting, optimisation of the capital expenditure requirements which is currently estimated around $1.3bn and $1.4bn over the first four to five years, and reviewing operational excellence opportunities to improve operating costs and further enhance the project returns.

The work on the FS is expected to be completed in the first half of 2021. The project is expected to treat 6.2Mtpa to produce 3,000Mlb of copper and 1.5Moz of gold over a potential twenty three year life with first production expected to start in 2025.

GRAMALOTE PROJECT

During the third quarter of 2020, work continued to advance for infrastructure design, process plant design, pit design and social initiatives.

Resource modelling is anticipated to be completed in November 2020 at which time the final phase of the Gramalote FS work will proceed based upon updated project parameters.

The Gramalote FS work, now managed by B2Gold, our 50% partner, is expected to be completed in the first quarter of 2021.

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