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AngloGold linked to large Colombia gold find Posted: Fri, 28 Dec 2007 [miningmx.com] -- COLOMBIA’S government is talking up a gold find it reckons could be one of the top ten in the world and a newspaper there called El Tiempo says AngloGold Ashanti found the deposit, which will take $2bn to bring into production from 2011. AngloGold officials were not immediately available to comment on the story, but Associated Press carried comments from Charles Carter, the head of investor relations, who said it was “premature” to discuss any findings by the world’s third-largest gold producer. AngloGold said in August it had found two gold prospects at Gramalote and La Colosa, with inferred resources of more than two million oz in Colombia, but it could take six years to develop them if they were found to be economically feasible. These are hardly projects to become too excited about. Gramalote was a pure gold project, but La Colosa contained copper and molybdenum, a metal used in the manufacture of steel. A third copper/gold project called Quinchia, was also under consideration. "It's at the early stage," Roberto Carvalho Silva, outgoing COO of AngloGold Ashanti's South American assets said at the time. "But they could represent a new gold frontier for AngloGold." News of the large find broke after the country’s president Alvaro Uribe couldn’t contain himself, spilling the beans after his mines and energy minister Hernan Martinez had told him exploiting the deposit could double Colombia’s gold production from 2011. It is understood that the company, which made the discovery, wanted to make the find public in February. “"How am I going to keep a secret this big until February?" Uribe is reported by Associated Press to have said in a 20 December speech. Click Here to subscribe to our daily newsletter
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