Stories and facts
AngloGold Ashanti (Ghana) Limited has been a cornerstone of the gold mining industry in Obuasi, a town renowned for its rich gold deposits.
As a subsidiary of the global gold mining giant AngloGold Ashanti, the company has played a pivotal role in the development and growth of Obuasi’s mining sector.
The company’s roots trace back to the early 1900s, when gold mining began in Obuasi under the Ashanti Goldfields Corporation (AGC), established in 1897. AGC was a pioneering force in Ghana’s gold mining industry, significantly influencing the local and national economies.
By the late 20th century, Ashanti Goldfields had become a leading global gold mining company, with Obuasi at the heart of its operations. The company's listing on the London Stock Exchange in 1994 highlighted its prominence in the industry.
A significant turning point occurred in 2004 when Ashanti Goldfields merged with AngloGold, a South African gold mining company, forming AngloGold Ashanti. This merger created one of the world’s largest gold mining entities, reinforcing its strong presence in Obuasi. Post-merger, AngloGold Ashanti (Ghana) Limited continued to operate the Obuasi mine, which has long been recognized for its rich gold deposits and its importance to the company’s global operations and the economic development of the region.
In the early 2010s, the Obuasi mine faced challenges, including declining ore grades, high operational costs, and safety concerns. These issues led to a temporary suspension of operations in 2014, allowing for a comprehensive restructuring and redevelopment plan. The redevelopment of the Obuasi mine became a central focus, aiming to transform it into a modern, mechanized underground operation. In 2019, after significant investment, the Obuasi mine was successfully reopened, marking a new chapter in its history and restoring its status as one of the world’s premier gold mines.
Today, AngloGold Ashanti (Ghana) Limited continues to be a major player in Obuasi’s economy, providing employment, infrastructure development, and community investment. The successful redevelopment of the Obuasi mine has reaffirmed its critical role in the global gold mining industry. The company remains committed to sustainable mining practices and has implemented various initiatives to benefit the local community, including investments in healthcare, education, water supply, and other social infrastructure projects.
AngloGold Ashanti (Ghana) Limited’s rich history in Obuasi is a testament to its enduring impact on the town's economic and social development. Despite the challenges faced over the years, the company’s commitment to responsible mining and community development continues to shape its operations and influence in the region.
