AngloGold signs Tanzania farm-in agreement with EcoGraf

AngloGold Ashanti, a gold mining corporation, has inked a $9 million, five-year farm-in deal with ASX-listed junior EcoGraf to explore for gold at the Golden Eagle project in Tanzania. The Golden Eagle project, located on the easterly border of the Archean Lake Victoria goldfields, shares a structural corridor with Resolute Mining’s historical 3.4-million-ounce Golden Pride mine. EcoGraf MD Andrew Spinks stated that the agreement with AngloGold, the world’s fourth-largest gold miner, demonstrated the asset’s outstanding technical quality and reflected confidence in Tanzania’s mining industry.

We look forward to seeing AngloGold’s gold exploration skills applied to Golden Eagle as it seeks another tier-one gold discovery to supplement its existing Geita project in Tanzania,” he added. AngloGold has set up a dedicated Tanzania exploration office in Dodoma. EcoGraf’s gold assets are deemed noncore because the company is primarily focused on the development of its battery anode materials business for the lithium-ion battery market.