Guinea Government Places Embargo on Imports and Exports by AngloGold Ashanti's Siguiri Mine
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| Thursday, May 27, 2004 |
The Government of Guinea has placed an embargo on all imports and exports by the Siguiri mine, including the export of gold bullion and the import of diesel. Diesel fuel is urgently required in order to maintain critical pumps at the heap leach plant, without which there is a risk of cyanide discharges and environmental harm.
Siguiri, located in Northern Guinea, produced 58,000 ounces of gold in the first quarter of 2004. AngloGold Ashanti is an 85% shareholder in the operation and the Government of Guinea has a 15% share. AngloGold Ashanti is currently constructing a carbon in pulp plant, which will increase production by 50%.
AngloGold Ashanti management is seeking urgent discussions with the Government of Guinea to discover the reasons for the embargo and, jointly with Government, to pursue an urgent resumption of mining activity. This is in the interests of all stakeholders in the Siguiri mine.
AngloGold Ashanti will keep all stakeholders informed of developments. |
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