Mining

Perseus workers fired

perseus

Perseus Mining Ghana Limited has sacked 48 workers of the company as part of measures to cut down on cost. The company together with Goldfields Ghana Limited recently alerted the Ghana Mine Workers Union of their intentions to lay off some workers. The dismissal comes a few days after AngloGold Ashanti laid off over 4,000 miners as part of cost-saving ...

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More miners to be sacked over “Dumsor”

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The Ghana Mine Workers Union is lamenting that the worsening power crisis and ongoing load shedding exercise has contributed to the growing dismissal of miners across the country. This comes after the Electricity Company of Ghana(ECG) announced a 25% cut in power supply to mining companies translating into 6 megawatts of electricity. Industry was roped into the ongoing load shedding ...

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AngloGold sacks over 4,000 workers

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Citi Business News has gathered AngloGold Ashanti Ghana has finally laid off 4,300 of its workers as part of cost-saving measures. This comes after the company announced the planned retrenchment in May this year. The move is part of measures being undertaken by the mining company to make the Obuasi mine profitable. AngloGold Ashanti budgeted to spend 220 million dollars ...

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Gold set for biggest weekly rise

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Gold prices steadied on Friday,12th December,2014 on track for their biggest weekly rise since June, as the dollar retreated and sliding oil prices hurt risk appetite, prompting another drop in stocks. Gold was up 3% this week. Weakness in stocks has prompted some investors to buy the metal as an alternative asset, while a drop in the US unit made ...

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Gold tumbles, oil hits 5-year low

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Gold prices tumbled on Monday December 1st, 2014 after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum, joining a broad rout in commodities that sent copper and oil prices to four- and five-year lows. The slide in the oil and commodity prices is hurting many assets tied to the resource sector – from Australian mining shares ...

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Obuasi mine closure reports are false-Anglogold

AngloGold-Ashanti-Logo

Anglogold Ashanti has denied reports that the Obuasi mines will be shut down for its restructuring. There have been reports that the mine will be shut down for 2 years to allow for restructuring that will see the mine bounce back at its optimum level. However, Executive Vice President of Sustainability at Anglogold, David Noko tells Citi Business News the ...

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Minerals Commission revokes license of Romex Mining Corporation

Mineral-Commission1

The Minerals Commission has revoked the license of Canadian Mining firm, Romex Mining Corporation. The revocation follows Romex flouting a number of laws governing mining in Ghana. Romex is reported to have transferred its mineral rights to another company, FCMI Ghana Incorporated, without the consent of the ministry in charge of the industry. Romex also began mining when they only ...

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Newmont supports Ghana in fight against Ebola

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Newmont Ghana has provided a medical support package valued at GH¢220,000.00 to assist with the country’s preparations for any potential outbreak of the Ebola disease in Ghana. The medical support package includes two isolation facilities for the Brong Ahafo and Eastern regions, provision of personal protective equipment, thermal scanners, educational awareness materials and training of hospital staff. The package would ...

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AngloGold to seal Obuasi mine from illegal miners

AngloGold-Ashanti-Logo

AngloGold Ashanti has assured it has adequate security to keep illegal miners at bay when it closes its Obuasi mine. The mining firm will partially close its Obuasi mine for two years to upgrade the mine. The company would continue with its surface mining programme which it regards as profitable against the expensive underground mining it has been doing for some years now. ...

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Newmont Ghana bags another Mine Safety award

Newmont Ghana Haul Truck

Newmont Ghana’s Ahafo Mine has emerged winner of this year’s Zone I Mine Safety and first Aid competition. The annual competition, organized under the auspices of the Ghana Chamber of Mines and the Inspectorate Division of the Minerals Commission, was hosted by Ghana Bauxite Company Ltd in Awaso under the theme: If it’s not safe, don’t do it. It was ...

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