AngloGold Ashanti vows to stay in Tanzania

Dar es Salaam. AngloGold Ashanti has reiterated its long-term commitment to investing in Tanzania, thanks to the country’s improving global position as a destination for mining and exploration.

This message came from company chief executive officer Alberto Calderon and was released after he met with President Samia Suluhu Hassan on May 23, 2022 in Accra, Ghana.

During the meeting, Dr Calderon updated the President on the investment in Geita Gold Mine Limited.

“We look forward to demonstrating our ongoing and strong commitment to Geita as we make a considerable investment in its long-term future, and to Tanzania, which continues to improve its global position as a destination for mining and exploration,” Dr Calderon said in the statement that was availed to The Citizen yesterday.

Geita Gold Mine is a cornerstone asset in AngloGold Ashanti’s global portfolio, receiving $135 million in capital investment and exploration expenditure in 2021 and and a further $169 million this year, to help increase production and extend its life. This investment has facilitated the development of three, new underground mines at Nyankanga, Star & Comet and Geita Hill, and also led to significant exploration success in the discovery of the large and growing Nyamulilima open pit mine, which is now in production.

It is also AngloGold Ashanti’s safest mine, with no lost time injuries reported for more than three years.

Since Geita started production more than 20 years ago, the mine has delivered more than $1.9 billion in taxes and royalties to Tanzania and provided key jobs for many.

It is also one of the most significant investors in social projects around the mine, with $6.1 million invested on community and social investments last year.

“We are grateful for the ongoing support we have received from the government in Tanzania and are proud of our contribution to our host communities through a range of social investments in education, agriculture, healthcare, infrastructure and economic development,” said Dr Calderon.

“We are committed to ensuring Geita remains a vibrant, profitable mine in the long-term that is able to create lasting benefits for its many stakeholders in Tanzania.”