Overview: Presence in Tanzania

AngloGold Ashanti operates in Tanzania through its 100% ownership of the Geita Gold Mine (GGM). This is the company’s flagship operation in East Africa and one of its most significant assets globally.

Geita Gold Mine (GGM) — Key Features
Feature Details
Location Lake Victoria goldfields, Mwanza region, about 120 km from Mwanza city and 4 km west of Geita town
License / Concession Operates under Special Mining Licence 45/99 in the Lake Zone
Mining Methods Combination of open-pit and underground mining
Active Mines / Zones Underground operations at Star and Comet, Nyankanga, Geita Hill; open pits at Nyamulilima (Cuts 1, 2, 3)
Resource / Reserve Size Mineral reserve base of roughly 3.25 million ounces of gold
Production Around 483,000 ounces of gold in 2024
Costs Total cash cost of about US$984 per ounce in 2023
Life-of-Mine & Strategy Projected life of mine through 2030, with ongoing exploration to replace and expand resources
Power / Infrastructure Supported by on-site power generation to ensure reliability for underground and open-pit operations
Recent Developments & Investments

Expanded underground mining fronts and opened new pits such as Nyamulilima.

Upgrades to infrastructure to support deeper mining.

Temporary dips in output due to mill shutdowns and lower ore grades, but long-term strategy remains growth and resource extension.

Environmental, Social & Governance (ESG) Context

Community & Artisanal Mining: The region has many small-scale miners, which creates challenges around land, safety, and environmental impact.

Environmental Management: Issues such as water use, runoff, and pollution control are ongoing priorities.

Regulation & Oversight: The mine must adhere to Tanzania’s mining laws, environmental regulations, and community benefit expectations.

Worker Safety & Health: Underground mining brings additional safety challenges that require strict standards and monitoring.

Strategic Importance & Risks

Importance for Tanzania

One of the country’s largest gold producers.

Significant contributor to employment, tax revenues, and infrastructure.

Provides opportunities for local procurement and skills development.

Key Risks

Declining ore grades increasing cost per ounce.

Higher technical and financial demands of underground mining.

Changes in mining policies, taxation, or regulation.

Community expectations and social tensions.

Environmental compliance obligations.

Infrastructure and power supply challenges in a remote region.