AngloGold

Tropicana Gold Mine Celebrates 1 million Ounces Milestone

(News Release – Johannesburg) — The Tropicana Gold Mine today celebrated production of its 1 millionth ounce on schedule, just over two years since pouring first gold.

(from left) Peter Bradford, CEO of IGO, Duncan Gibbs, GM Tropicana, and Michael Erickson, SVP Australia. They are holding the 1 Moz gold bar.
(from left) Peter Bradford, CEO of IGO, Duncan Gibbs, GM Tropicana, and Michael Erickson, SVP Australia. They are holding the 1 Moz gold bar.

“We poured first gold at Tropicana in September 2013 and the fact that the mine has produced its millionth ounce on schedule is testament to the hard work of everyone at the site and the support of our business partners,” said Michael Erickson, Senior Vice President Australia.

Tropicana, located 330 kilometers east-northeast of Kalgoorlie in Western Australia, is owned by AngloGold Ashanti Australia Ltd (70% and manager) and Independence Group NL (30%).

The operation achieved the 1 million ounce milestone in October, in line with expectations outlined in the Bankable Feasibility Study, which was approved in November 2010. Tropicana is the first mine outside of South Africa that AngloGold Ashanti has discovered and then brought into production, improving the company’s global portfolio by bringing lower cost ounces into its production base.

AngloGold Ashanti Australia and Independence Group were joined by a number of the operation’s business partners in a special celebration at the site today.

The operation produced 118,204oz (100%) at a total cash cost of US$500/ounce and all-in sustaining costs of $674/oz in the September 2015 quarter.