AngloGold Ashanti still in dark about Guinea mine
Friday May 28, 11:38 am ET
[ The government of Guinea had better do something about this bad publicity. West Africa's history for 300 years has been one of "shake-downs" and corruption since the travels of Mungo Park. The refusal of the Guinea government to explain its embargo of AngloGold Ashanti (AU) enhances suspicions that AU just failed to bribe someone to the degree expected. FL ]
JOHANNESBURG, May 28 (Reuters) - South Africa's AngloGold Ashanti Ltd (ANGJ.J) said on Friday it had failed so far to discover why the government of Guinea had imposed restrictions on its Siguiri mine.
The firm, the world's second biggest gold producer, said in a statement on Wednesday that production had halted after the government of the West African country stopped it from exporting gold or bringing diesel fuel into the facility.
The group said it was seeking urgent discussions with the government to discover the reasons for the embargo.
When asked whether a meeting with the government had occurred, spokesman Alan Fine replied: "Nothing's changed since we put out the statement."
AngloGold said Siguiri produced 58,000 ounces of gold in the first quarter of 2004 -- 49,300 ounces of that for AngloGold Ashanti, or three percent of the company's global quarterly production.
It bought an 85 percent stake in the mine one month ago.
AngloGold Ashanti is majority owned by diversifed miner Anglo American (London:AAL.L - News; AGLJ.J).
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