ANGLOGOLD ASHANTI UNDERLIES COMMITMENT TO TANZANIA

AngloGold Ashanti has recommenced Greenfield exploration Ltd. activities in Tanzania as it seeks a new discovery to complement the largest producing asset in its portfolio, the cornerstone Geita Gold Mine (GGM).

“As we prepare to celebrate GGM’s 25-year anniversary as one of the world’s few true tier-one gold mines, we look forward to the next quarter century operating and developing this magnificent ore body,” said AngloGold Ashanti CEO Alberto Calderon. “Given its status as one of the world’s top gold mining jurisdictions we would obviously like to increase our presence and production levels in Tanzania, which is why we’re making this investment to find another world class gold deposit in Tanzania.”

AngloGold Ashanti, the world’s fourth-largest gold producer by production, has one of the global gold industry’s most successful gold exploration programmes with large gold discoveries in Australia, the United States and Colombia. The establishment of a new, dedicated greenfield exploration office in Dodoma will help direct expertise and resources to at least three distinct new exploration projects in the Dodoma, Shinyanga and Singida regions, where the company believes there is potential to find a deposit similar to the world-famous GGM.

GGM, which produced its first ounce of gold in June 2000 is the largest of AngloGold Ashanti’s nine gold mines located across three continents, with production this year expected to be about 500,000oz.
AngloGold Ashanti has invested extensively in the development of underground mines on the GGM concession in Tanzania’s Lake Victoria Gold District, with three new underground mining fronts and a new open pit brought into production in the last four years alone. Capital investment made by GGM in 2023 is expected to have been about $193m. These projects will extend the mine’s life by several years.

In the past five years, an intensive exploration programme at the site has yielded success, with 4.8moz added to Mineral Reserve, more than offsetting the 2.7moz produced over that time. The company has invested $35m in brownfield exploration in 2023 alone and committed to invest a further $31m in 2024 as part of its campaign to further extend the life of this important mine.

“We are committed to GGM and its stakeholders in Tanzania for the long term,” Calderon said. “This mine is a long-term cornerstone asset in our portfolio and our ambition is to replicate the success we have enjoyed here, with another discovery just like it in the country.”

In line with AngloGold Ashanti’s Sustainability strategy to reduce carbon emissions, GGM is implementing a project to connect the mine to the Tanesco’s national power grid, an initiative that will not only reduce the Mine’s cost on power by a half but will also have the potential to reduce its carbon emission by 81Kt CO2-e by 2030. AngloGold Ashanti applauds Tanzania’s recent investment in upgrading the grid which will increase its reliability and look forward to continued improvements in future.

As part of its contribution to creating shared value with the host community and the broader society, GGM has since its inception partnered with the government to finance and implement corporate social investment projects in strategic sectors such as education, health, water, roads, and income generation.

The Nyankumbu Girls Secondary School, which has become a center of excellence for girls in the great lakes region, now accommodates over 1,000 girls from early to high secondary school. The Geita Town clean water project and Geita Town Water Project have together have helped lift the number of households with access to clean and safe water by over 65%. These projects, together with dozens of others undertaken during GGM’s life, demonstrate AngloGold Ashanti’s commitment to uplift the welfare of the community of Geita.

GGM has been recognized for its contribution to the welfare of the community, receiving consecutive awards from the Ministry of Minerals as the best performer in the mining sector for corporate social investment, environmental stewardship, local business content and occupational safety. GGM also received the Tanzania’s Consumer Choice Award as the most trusted and credible mining company in Africa.
“As we continue to invest in Tanzania, GGM endeavors to create and sustain long lasting partnerships to support livelihoods and enterprises that will outlive the mine,” said Calderon.