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25.08.2004 Business & Finance

Guinea lifts embargo on export of gold bullion by AngloGold Ashanti

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Accra, Aug. 25, GNA - AngloGold Ashanti said on Wednesday that it has been informed by the Government of Guinea that the embargo on the export of gold bullion from that country by AngloGold Ashanti has been lifted.

"This development provided a conducive environment for negotiations to resume between the Company and the Government on the Convention de Base, which regulates the Company's relationship with the Government of Guinea," a statement issued in Accra said.

The statement quoted Mr Sam Jonah, President of AngloGold Ashanti as saying: "We are delighted with this development and look forward to the expeditious and amicable resolution of all outstanding matters."

He said to this end, the Company had received from the Government suggested amendments to the existing Convention and "we expect to recommence and to conclude negotiations shortly.

"We also look forward to working with the Government in realising the Siguiri mine's exciting potential to the benefit of both Guinea and AngloGold Ashanti."

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