Africa Snapshot: Eight companies active on the continent

Africa offers pre-production and operating companies large areas of underexplored prospective terrain and, in many countries, established mining legislation. West Africa, in particular, has attracted many explorers, developers and producers looking to deliver competitive returns for shareholders. Notably, a number of countries on this continent have a free carried interest provision, whereby they own a share of the project. Governments are granted a 10% free-carried interest, for example, in Burkina Faso, Senegal and Mali. Here is an overview of eight mineral companies active within Africa. Anglo Gold Ashanti Anglo Gold Ashanti (NYSE: AU) is a major gold mining company with interests in 14 operating mines in nine countries. Last year, the company produced a total of 3.3 million oz. gold at all-in sustaining costs (AISCs) of US$992 per ounce. Continental Africa contributed 1.5 million oz. of this total with a further 419,000 oz. sourced from South Africa and additional production from South America and Australia. This year, the company plans to produce a total of 3.05 million oz. to 3.3 million oz. at AISCs of US$1,040 to US$1,100 per ounce.