Colombia

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COLOMBIA

Greenfields Projects - AngloGold Ashanti currently has three greenfields projects in Colombia. Quebradona and Gramalote, in the department of Antioquia, are at various stages of permitting and feasibility study, and La Colosa, in the department of Tolima, is presently under force majeure.

COLOMBIA

Greenfields Projects - AngloGold Ashanti currently has three greenfields projects in Colombia. Quebradona and Gramalote, in the department of Antioquia, are at various stages of permitting and feasibility study, and La Colosa, in the department of Tolima, is presently under force majeure.

Overview and Locality

Gramalote

The Gramalote project, a joint venture between AngloGold Ashanti (50%) and B2Gold (50%), is located near the towns of Providencia and San Jose del Nus within the municipality of San Roque, in the northwest of the Department of Antioquia. It is approximately 124km northeast of Medellín, the regional capital of the Antioquia Department. B2Gold became the project manager and operator in 2020.

Work on the feasibility study continued as planned in 2020 with drilling resuming in May 2020. Feasibility stage metallurgical studies and process plant designs were also completed, while infrastructure design work continues. A revised schedule and budget for the proposed optimisations, continued sustainability projects, further exploration and completion of a final feasibility study is being developed. The final feasibility study for the project is expected to be delivered during the course of 2022.

La Colosa 

The La Colosa project is located approximately 150km west of Bogota, in the Tolima Department. It is a very large porphyry-style gold deposit discovered by AngloGold Ashanti Colombia greenfield exploration group in 2006. This wholly owned project is currently under force majeure until the necessary environmental permits are issued.

Overview and Locality

Gramalote

The Gramalote project, a joint venture between AngloGold Ashanti (50%) and B2Gold (50%), is located near the towns of Providencia and San Jose del Nus within the municipality of San Roque, in the northwest of the Department of Antioquia. It is approximately 124km northeast of Medellín, the regional capital of the Antioquia Department. B2Gold became the project manager and operator in 2020.

Work on the feasibility study continued as planned in 2020 with drilling resuming in May 2020. Feasibility stage metallurgical studies and process plant designs were also completed, while infrastructure design work continues. A revised schedule and budget for the proposed optimisations, continued sustainability projects, further exploration and completion of a final feasibility study is being developed. The final feasibility study for the project is expected to be delivered during the course of 2022.

La Colosa 

The La Colosa project is located approximately 150km west of Bogota, in the Tolima Department. It is a very large porphyry-style gold deposit discovered by AngloGold Ashanti Colombia greenfield exploration group in 2006. This wholly owned project is currently under force majeure until the necessary environmental permits are issued.

Quebradona

The Quebradona project is situated in the Middle Cáuca region of Colombia, in the Department of Antioquia, 60km southwest of Medellín within the Municipality of Jericó. The project is 100% owned and managed by AngloGold Ashanti. Quebradona remains an attractive long-life, high-grade, low-cost project which will add copper production to our portfolio. A feasibility study is underway to determine the engineering activities.

The project is expected to treat 6.2Mt annually to produce 3 billion pounds of copper, 1.5Moz of gold and 21Moz of silver over a potential 23-year life. Quebradona will be a copper mine with gold and silver as by-products. First production is expected approximately four-and-half years from the start of construction. Colombia’s environmental agency (ANLA) took the decision to archive our environmental licence application relating to Quebradona. AngloGold Ashanti has filed an appeal seeking to secure further details on the specific additional information the agency would require in order to be able to prepare a licence submission that would meet the agency’s requirements.

This process will result in a delay to the project.

Quebradona

The Quebradona project is situated in the Middle Cáuca region of Colombia, in the Department of Antioquia, 60km southwest of Medellín within the Municipality of Jericó. The project is 100% owned and managed by AngloGold Ashanti. Quebradona remains an attractive long-life, high-grade, low-cost project which will add copper production to our portfolio. A feasibility study is underway to determine the engineering activities.

The project is expected to treat 6.2Mt annually to produce 3 billion pounds of copper, 1.5Moz of gold and 21Moz of silver over a potential 23-year life. Quebradona will be a copper mine with gold and silver as by-products. First production is expected approximately four-and-half years from the start of construction. Colombia’s environmental agency (ANLA) took the decision to archive our environmental licence application relating to Quebradona. AngloGold Ashanti has filed an appeal seeking to secure further details on the specific additional information the agency would require in order to be able to prepare a licence submission that would meet the agency’s requirements.

This process will result in a delay to the project.