Tuesday, 26th April 2005 (2885 views)

AngloGold Ashanti has entered a new partnership with the Democratic Republic of Congo to explore and mine yellow gold.

The work will take place in the country's northern Ituri region, according to AFP.

According to sources, the joint venture Ashanti Gold Kilo will be based near the gold-rich area of Kilo, based in Mongwalu.

The South African miner believes the area could contain gold reserves of up to 100 tonnes and it had been prospecting in the area in May last year.

Ashanti Gold Kilo will spend between $30 to $40 to explore and mine the gold from the 8,000-square kilometre site.

Although violence in the area had stopped mining in the past, peacekeepers have now calmed the situation in the area, which has one of the richest gold reserves in central Africa.

 

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