Speaking to Energy Capital & Power during Mining in Motion 2025 in Ghana last week, Bailey said the target is part of the firm’s over $1 billion mine modernization, expansion and recapitalization program.

“Where we are now is that we are ramping up to full production. We are finishing some major infrastructure projects including vertical shafts at the mine,” stated Bailey. The mine produces 221,000 ounces of gold per annum to date.

The company is also implementing various programs to optimize the Iduapriem Mine in Ghana through its Full Asset Potential initiative initiated to unlock assets’ potential.

“AngloGold Ashanti is the largest gold producer in Africa, with mines in Guinea, Ghana, Egypt, Tanzania, and a joint venture which we don’t operate in the DRC called Kibali. Our focus at the moment is to look at each of these assets to maximize them,” stated Bailey, commenting on the group’s investment strategy across Africa.

Watch the full video here.