BY BUSINESS REPORTER AND AGENCIES
TANZANIA’S largest gold miner, African Barrick Gold (ABG), exploration company Extract Resources and copper producer Anvil Mining are expected to participate in the main stage presentations at this year’s Investing in African Mining Indaba.
In general, company-sponsored presentations on the main stage are by invitation only, says Mining Indaba MD Maria Palombini.
She adds that companies are selected on the basis of a number of criteria, including size, commodity, service type, industry relevance and management.
The companies that are invited to present are key industry players, are ranked among the top 100 mining companies in the world or are among the growing companies to watch.
Main stage presentations at the Mining Indaba offer companies the opportunity to showcase products and new projects, as well as provide updates on existing projects.
ABG’s presentation will give an overview of its strategy, oper- ations and the opportunities it foresees for 2012.
ABG expected to produce in excess of 700 000 oz of gold from its Bunyanhulu, Buzwagi, North Mara and Tulawaka mines, in northern Tanzania, in 2011.
However, power outages that affected its mines, particularly the Buzwagi mine, prompted the miner to announce, in December, that it would fall short of the target.
The power outages cost it between 35 000 oz and 40 000 oz of gold in the 2011 financial year.
Nevertheless, ABG plans to boost production to one-million ounces of gold a year by 2014 by optimising production from its existing asset base, growing its near-mine expansion and developing advanced-stage projects, as well as through further organic and acquisitive growth.
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