Friday, 28 March 2008

AngloGold Ashanti Plans to Boost Production at Tanzanian Mine

From Bloomberg Press
By Sarah McGregor

March 28 (Bloomberg) -- AngloGold Ashanti Ltd. , Africa's biggest gold producer, expects output at its Geita Gold Mine in Tanzania to rise 3.7 percent this year and may spend more than $10 million upgrading the project.

Production will increase to 339,000 ounces this year, compared with 326,852 ounces in 2007, Richard Le Sueur, the company's managing director said yesterday in an interview at Geita, 80 kilometers (50 miles) southwest of Tanzania's second- largest city, Mwanza. Output has declined from a peak of 618,571 ounces in 2005 due to a series of technical problems.

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