Gold Fields, AngloGold Venture to Create Africa’s No. 1 Mine
- Companies propose combining Tarkwa and Iduapriem in Ghana
- Joint venture would offer synergies and cost savings
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Gold Fields Ltd. and Johannesburg-based rival AngloGold Ashanti Ltd. have proposed a joint venture in Ghana that would create Africa’s largest gold mine.
Gold Fields would hold two-thirds of the venture that would combine the operations of its Tarkwa mine with those of AngloGold’s neighboring Iduapriem, the companies said in a joint statement on Thursday. AngloGold would hold the remainder of the venture, and both companies would benefit from synergies and cost savings.