Ghana is the world´s second largest producer of gold. One of the places where mining has been more intense is in the municipality of Obuasi, in the Ashanti Region. There it is The Oubasi Gold Mind, one of the biggest in Ghana and the world, and nowadays closed since 2016 due to lack of profits. The mining had started there in 1897, under British rule and along the years, it has been accused of water pollution, land contamination and food insecurity.In fact, in 2011, AngloGold Ashanti was declared the worst company for bad corporate behaviour in Ghana in the Public Eye Awards. . In 2016 the Wall Street Journal (April 11 ) reported that in Ghana, AngloGold Ashanti Ltd., the world’s No. 3 gold producer, closed shafts at its Obuasi mine in late 2014, as the mine hemorrhaged cash amid sinking metals prices. Early that year (2016), hundreds of men broke through the 13-mile fence around Obuasi and started prospecting for gold there on their own". By 2018, the firm is considering to open the mine again, and has already received environmental permits from the authorities.
In February 2018 AngloGold Ashanti announced that it signed an agreement with the Government of Ghana to provide the framework for the redevelopment of the Obuasi Gold Mine, turning it into a “modern productive mining operation.” Under the agreement, which incorporates a development agreement, a tax concession agreement, a security agreement and a reclamation security agreement, AngloGold will invest $450 -$500m in bringing Obuasi back to producing and profitable mine operation. The Obuasi Gold Mine has been in “limited operating phase” since 2014, where it was decided that the mine operations would be significantly reduced due to falling gold prices and a prolonged period of significant losses.
AGA has never faced the liabilities left by gold mining in Obuasi until 2014. -