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17.03.2008 Business & Finance

AngloGold struggles in the woods - Officials

By Nhyira FM
AngloGold struggles in the woods -  Officials
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Officials of AngloGold Ashanti Obuasi mine say the company is making losses due to the activities of illegal miners in its concessions.

The company failed to meet its production target of 400,000 ounces of gold for last year.

Vice President for West Africa Division, Christian Rampa Luhembwe said the company has lost millions of dollars to illegal miners leading to the closure of one of its shafts at Sansu near Obuasi.

He was speaking at the Manhyia Palace where he led management of AngloGold Ashanti to pay a courtesy call on the Asantehene, Otumfuo Osei Tutu II.

Meanwhile the Asantehene Otumfuo Osei Tutu II has asked Anglo Gold to increase assistance to communities in its operational areas as part of efforts to control illegal mining.

Though he will not provide figures, Otumfuo says he is not happy the mining giant has reduced its Community Assistant Budget in recent times.

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