AngloGold of South Africa, the world's largest gold producer, announced on Thursday that its board had approved capital expenditure of US $75 million for the development of the Yatela mine in Mali.
The board's approval is subject to the successful conclusion of
negotiations with the Malian government and the completion of financing for the project, a company statement said. The mine, an open-pit operation, will produce 1.2 million ounces of gold over a five-year period at a cash cost of US $175 per fine ounce.
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