| Business Summary | | Ashanti
Goldfields
Company
Limited
is
primarily
engaged
in
the
mining
and
processing
of
gold
ores
and
the
exploration
and
development
of
gold
properties
in
Africa.
In
1999,
the
Company
produced
a
total
of
1,561,536
ounces
of
gold
and
as
of
December
31,1999,
the
Company
had
recoverable
proven
and
probable
gold
reserves
of
22.6
million
ounces.
Ashanti's
operations
are
principally
in
Ghana,
but
the
Company
also
has
significant
mining
operations
in
Guinea
and
Zimbabwe
and
a
project
under
construction
in
Tanzania.
In
the
year
ended
December
31,
1999,
Ashanti
completed
the
expansion
of
the
Siguiri
mine
increasing
the
mines
production
capacity
to
eight
million
tons
per
annum
(mtpa)
and
as
of
December
31,
1999,
the
construction
of
the
Geita
project
in
Tanzania
was
approximately
50%
complete.
Ashanti
also
owned
a
50%
interest
in
the
Golden
Pride
mine
in
Tanzania,
which
interest
was
sold
during
the
year
ended
December
31,
1999. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Ashanti
Goldfields
Co.
is
engaged
in
the
mining
and
processing
of
gold
ores
and
the
exploration
and
development
of
gold
properties
in
Africa.
For
the
six
months
ended
6/30/01,
revenues
decreased
7%
to
$269.4
million.
Net
income
rose
74%
to
$23.1
million.
Revenue
reflects
decreased
gold
production
in
Obuasi
and
other
mines.
Earnings
benefitted
from
improved
operating
margins,
along
with
decreased
interest
expense. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Michael Beckett, 64 | Chairman | Sam Jonah, 50 | CEO | Srinivasan Venkatakrishnan | CFO | Trevor Schultz, 57 | Chief
Operating Office | James Anaman, 53 | Managing
Director of Public Affairs |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|