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Randgold walks away from Obuasi mine JV, says project would not meet internal investment goals

LSE- and Nasdaq-listed Randgold Resources has decided to terminate the investment agreement entered into with AngloGold Ashanti in September, to revive the struggling Obuasi gold mine, in Ghana, with immediate effect.

Randgold had in September agreed to lead and fund a development plan designed to rebuild Obuasi as a viable long-life mining business, with an attractive cost structure and returns.