AngloGold Ashanti and Gold Fields have suspended discussions on a proposed joint venture to merge their Iduapriem and Tarkwa gold mines in Ghana, a deal that aimed to create Africa’s largest gold-producing operation.
Originally announced in March 2023, the merger had progressed through months of talks with the Ghanaian government.
However, both companies now say they will shift focus to optimising their individual operations.
“AngloGold Ashanti and Gold Fields have agreed to pause discussions about a proposed joint venture to combine their Iduapriem and Tarkwa gold mines in Ghana,” a joint statement confirmed.
AngloGold cited changes in its standalone mine plan at Iduapriem, which it says could unlock significant value, prompting the decision to re-evaluate priorities.
While the proposed merger is on hold, neither company has ruled out the possibility of revisiting the deal in the future.
