This, according to the company, will be achieved through its comprehensive and innovative local content strategy that ensures that certain factors of production such as labour, suppliers, technology and knowledge required at each stage of the value chain, is sourced from the local population.
As part of efforts to boost local participation in the redevelopment of the mine, the company has signed a $375m agreement with Underground Mining Alliance Limited (UMA), which is a joint venture between African Underground Mining Services (AuMS), an Australian owned company incorporated in Ghana and Rocksure International, an indigenous Ghanaian mining services provider.
UMA, will provide the full suite of underground mining services at Obuasi, with major capital equipment supplied by AngloGold Ashanti.
The Managing Director of Anglogold Ashanti, Obuasi, Mr. Eric Asubonteng says; ”the signing of this agreement is an indication of the company’s commitment to continuously invest in Ghana’s future, particularly in terms of local procurement, employment, training and development and overall mining capacity building, which will benefit the region and the economy for decades to come”.
“Based on our outstanding commitment and contribution to enhancing local content, AngloGold Ashanti remains dedicated to leading charge to help build the capacities of locals within and outside our operational communities to enable them to benefit immensely from the industry”, he stressed.
Works are expected to start in the first quarter of 2019. This initiative is expected to contribute to the development of the mechanized, underground mining expertise within Ghana’s local mining and engineering sector.
It is estimated that about 550 people, predominantly Ghanaians, will be employed and trained by the contractors for the duration of the contract term, allowing for knowledge and skills transfer.
The Obuasi Mine has 5.8Moz of Ore Reserves and 34Moz in Mineral Resource, and will have an initial mine life of roughly 20 years.
The Obuasi Mine, which has been primarily an underground operation, was placed on care and maintenance in 2016 pending the commencement of the redevelopment project.
In June 2018, the Parliament of Ghana ratified the regulatory and fiscal agreements that cover the redevelopment of the Obuasi Gold Mine and the Environmental Protection Agency issued the necessary environmental permits.