AngloGold project Quebradona has permit ‘archived’ by Colombian authorities

ANGLOGOLD Ashanti said Colombia authorities had ‘archived’ an environmental permit application for its proposed Quebradona copper and gold project.

While the gold producer is entitled to appeal the decision, it said archiving a permit enabled an applicant to work on improving any deficits in its environmental permit application.

“Generally, a decision to archive is made where the regulator determines that in some areas it requires additional information to either confirm or deny a permit application,” the gold producer said in an announcement on Tuesday.

AngloGold added that Quebradona was “… one of the world’s most exciting new copper-gold projects” and that it was encouraged by senior government support for it.

Quebradona, and another Colombian prospect Gramalote, have potential to add a combined 350,000 ounces of new production to AngloGold and formed a major part of the growth strategy outlined by former CEO, Christine Ramon in April this year.

In addition to these projects, as well as the re-engineering Obuasi gold mine in Ghana, AngloGold was forecast to spend $1bn from now until 2025 taking gold production to 3.4 million ounces annually. Quebradona is forecast to produce 67,000 oz a year.

AngloGold’s new CEO Alberto Calderon, a Colombian national, has earmarked the successful commissioning of projects in his home country as part of his own strategy to improve the group’s rating.