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South African firm to spend US $75 million on gold mine

    ABIDJAN

    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.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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