AngloGold Tropicana Mine in Western AustraliaAngloGold together with their joint venture partner Independence Group finally opened their new gold mining site located in Western Australia.

According to AngloGold’s Executive VP on group planning and technical division Graham Ehm, Tropicana Gold Mine could produce produce 500 000 oz/y of gold over the first three years and about 330 000 oz/y and 350 000 oz/y on the next 11-year mine life.

AngloGold’s chairperson Sipho Pityana stated that Tropicana Gold Mine has a capital investment of about 800Mn Australian Dollar so as to operate efficiently.

AngloGold, together with its joint venture partner, is trying to lower the production cost because although the gold’s value is rising, it will not still be enough to cover all the other expenses needed to keep a mining operational.

“We have taken considerable costs out of our business at all levels – operating costs, overheads, exploration and discretionary spending. We are keenly aware of the centrality of increased production to the enhanced value of the business, we have focused on improving the quality of our portfolio,” he said.

Apart from Tropicana Gold Mine, AngloGold is also depeloping Kibali mine, in the Democratic Republic of Congo. Their joint partner in the mining site is  Randgold Resources.