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AngloGold halts work at giant Colombian project

Posted by ipso facto @ 11:47 on April 29, 2017  

World number three gold mining company AngloGold Ashanti (NYSE:AU) is halting plans to develop its $2 billion La Colosa project in Colombia after voters in a referendum held in the central Tolima region overwhelmingly opted for a ban.

AngloGold has been advancing the project for 14 years and La Colosa had the potential to become on of the largest gold mines in the world.

The deposit, 150km west of Bogota, boasts proven and probable reserves of 25.4 million ounces ranking it in the top ten gold deposits in the world.

The Johannesburg-based company said it had to stop all exploration work and investment at the 100%-owned project until “there’s certainty about mining activity in the country and Tolima”.

cont. http://www.mining.com/anglogold-halts-work-giant-colombian-project/

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.