Anglogold Ashanti (AU) and Gold Fields have agreed to pause discussions on a proposed joint venture to combine their Iduapriem and Tarkwa gold mines in Ghana.
AngloGold Ashanti and Gold Fields proposed merging their adjacent mines in March 2023 and have since engaged in constructive talks with the Ghanaian government to secure approvals, Anglogold Ashanti said Tuesday.
During this period, AngloGold Ashanti identified enhancements to its standalone Iduapriem mine plan with potential for significant value, prompting both companies to pause joint venture talks and focus on optimizing their individual operations, the company said.
Shares of Anglogold Ashanti were up more than 2% in recent Tuesday trading.
Price: 43.12, Change: +0.98, Percent Change: +2.33
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.