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AngloGold Ashanti is planning to expand some of its uranium and gold mines in South Africa to increase production, the Business Day newspaper said. The company AngloGold Ashanti is the third-largest gold miner in the world.
The company would keep its gold output at the level of a minimum of 1.75 million ounces annually over the next five years, the paper said quoting AngloGold's executive vice president for South Africa, Robbie Lazare. However, the company expects the output to drop because of big projects underway, which would eventually add to production in the next 10-12 years.
Among AngloGold's big projects is the 1.2 billion Rand deepening of the Mponeng mine. Other projects were pending approval from the board.
AngloGold said its annual uranium output would rise in the short-term from 1.3 million pounds to 2 million pounds. The company said it could produce 1.4 million pounds of uranium this year, accounting for almost all of South Africa's uranium output.
The company would also expand its South Uranium plant to take care of increased volumes from the Kopanang mine, the paper said.
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