AngloGold Ashanti’s Tropicana Mine Costs to Overrun by 13%
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AngloGold Ashanti Ltd., Africa’s largest producer of the metal, said the cost to develop its Tropicana gold project in Western Australia will be as much as 13 percent more than its previous estimate.
The mine will cost A$820 million ($852 million) to A$845 million to build, the Johannesburg-based company said in a statement today. Gold production, estimated at 470,000 ounces to 490,000 ounces in the first three years, is planned to start during the quarter through December, said AngloGold, which owns 70 percent of the project. Independence Group NL has the rest.