Home Business AngloGold Ashanti implements 10-year Socio-Economic Development Plan

AngloGold Ashanti implements 10-year Socio-Economic Development Plan


AngloGold Ashanti Obuasi Mine is exploring partnership opportunities for the implementation of its 10-year Socio-Economic Development Plan (SEDP) in the Ashanti Region.

The plan, represents the social investment strategy for the Obuasi mine for the period 2022 to 2031.

The newly introduced 10-year Socio-Economic Development Plan is leveraging on the previous 3-year plan which began in 2019 and ended in 2021.

The initiative will support skills development, community growth and general upliftment of the two local assemblies within which the mine operates.

Managing Director of Anglogold Ashanti, Eric Asubonteng, says the Plan is a social investment strategy to contribute to resilient and socio-economically self-sustaining communities.

He was speaking at a development partnership symposium organized in Kumasi.

“In November 2014, underground production was suspended at the Obuasi mine, marking the commencement of a major restructuring programme, which saw a 4-year hiatus in operations at the Obuasi mine.

During this period, it became patently clear that the high dependence of the Obuasi local economy on the operations of the mine was unsustainable. Upon the commencement of the Obuasi redevelopment project in 2018, a social management plan was developed to drive the mines social investment for the period 2019 to 2021.

As the SMP drew to a close in 2021, consultations were carried out, culminating in a longer term socio economic development plan ( SEDP) keeping in mind the longer life of mine, and the need for continuity in sustaining community support. The SEDP represents the social investment strategy for the Obuasi mine for the period 2022 to 2031. We know we can achieve our goal through partnership with stakeholders and the government,” he said.

The mining giant says it is committed to contributing $2 for each ounce of gold it produces to the Anglogold Ashanti Obuasi Community Trust Fund to fund projects in the communities.

Mr. Emmanuel Baidoo, Senior Manager, Sustainability, Anglogold Ashanti said, “The Obuasi municipal and Obuasi East assemblies have provided the socio-political context and Anglogold Ashanti has a responsibility to contribute to the development process. In addition to this, the mine is committed to paying $2 for every ounce of gold mined into the Anglogold Ashanti Obuasi Community Trust Fund.”

The implementation of the Socio-Economic Development Plan (SEDP) is aligned with the business sustainability and performance of the mine.

It will be built into the annual business plan of the mine for budgeting purposes.

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