Here is how much AngloGold offered Obuasi mine to Asantehene, Otumfuo Osei Tutu II before the shutdown

The Asantehene, Otumfuo Osei Tutu II
  • The AngloGold Ashanti Obuasi Mine was shut down in 2014.
  • This was due to illegal mining operations at the concession at the mine.
  • The Asantehene Otumfuo Osei Tutu II said the managers offered it to him for a paltry sum due to their frustrations.

The Asantehene Otumfuo Osei Tutu II has revealed that the managers of AngloGold Ashanti’s Obuasi Mine once offered to sell the entire mine to him at $1.

According to the Asantehene, this was because the managers were frustrated with the invasion of their concessions by illegal miners at the time.

He was speaking at the re-opening of mine on Tuesday, 22 January 2019.

The mine was shut down in 2014 due to illegal mining operations at the concession of the AngloGold Ashanti’s mine in Obuasi. The government at the time was also unable to secure the concession from illegal miners.


There were several confrontations between the mining company and the illegal miners popularly referred to as galamseyers. One of such confrontations led to the death of an AngloGold Ashanti manager.

The company’s Communication Director, John Owusu died when a car run him over during a swoop on the illegal miners who had invaded one of Obuasi’s concessions.

Meanwhile, some soldiers who were stationed at the company’s concession to protect life and property also withdrew their services. This emboldened the galamseyers who went as far as invading some parts of the underground concession of the company.

 The Asantehene said he did everything within his power to stop the shutdown but did not succeed.

“The managers of AngloGold Ashanti offered to sell the entire mine to me for one dollar. They said they’ll close the mine and hand over the keys to me for just a dollar, but I begged them not to shut it down. I even proposed that a piece of land be given to the illegal miners so that they do not encroach on the concession of AngloGold Ashanti. We did all that but it didn’t work,” he stated.


He was grateful to Ghana’s President, Nana Akufo-Addo for fulfilling a campaign pledge he made to the people of Obuasi on 15 July 2016, in the run-up to the 2016 general elections, to revive the mine.

Nana Akufo-Addo on his part said that the government will do everything it takes to keep the mine opened.

He added that the government is expected to rake in some $2.16 billion in revenue over the next 22 years, in royalties and corporate and withholding taxes.


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