/ 30 August 1999

ANGLOGOLD TO DITCH NAVACHAB?

LOW gold prices, strikes and lack of co-operation from the Namibian Government threaten the existence of AngloGold’s Navachab gold mine at Karibib, it emerged this week. Navachab announced in Windhoek on Wednesday that plans for the extension of the open pit at the mine are likely to be shelved. AngloGold Executive Officer for Africa Ian Cockerill said low world gold prices, continuing unstable relations with the Minewwhich have culminated in illegal strikes, lack of progress in securing work permits for skilled personnel from home affairs and the Labour Ministry’s failure to declare Navachab as a continuous operation threatened plans for the extension of the mine’s pit.