Gold Fields and AngloGold Suspend Talks on Significant Ghana Mine Initiative

Gold Fields and AngloGold Ashanti have opted to cease discussions regarding the merger of two mines in Ghana, more than two years after they first proposed the joint venture.

On Tuesday, both companies announced a decision to “pause discussions” concerning the merger of their Iduapriem and Tarkwa assets, allowing each firm to focus on strengthening their independent operations.

The envisioned joint venture had the potential to create the largest gold mine in Africa. However, negotiations were delayed due to the prior government’s refusal to grant the necessary permissions before its defeat in December, leading to the need for renewed discussions with the incoming administration under President John Mahama.

Last year, Gold Fields’ Tarkwa mine produced 537,000 ounces of gold, while AngloGold’s Iduapriem generated 237,000 ounces.

Recently, the Ghanaian government made a rare decision to deny the renewal of Gold Fields’ Damang mine lease—a smaller operation nearing the end of its productive life—before ultimately granting a 12-month extension. The Johannesburg-based company has indicated it plans to apply for the extension of Tarkwa’s mining rights, which are due to expire in 2027.

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