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Randgold to spend up to $1 bln on Ghana mine - CEO

Reuters - UK Focus

JOHANNESBURG, Sept 16 (Reuters) - Randgold Resources aims to spend no more than $1 billion on the Obuasi gold mine in Ghana it is developing with AngloGold Ashanti (Xetra: AOD.DE - news) , the company's chief executive said.

AngloGold, Africa's biggest gold producer, has signed a deal with Randgold to develop and mechanise its Obuasi mine which is currently not in production.

In response to a question on a conference call, Mark Bristow said spending for the mine: "should be below $1 billion". (Reporting by Zandi Shabalala; Editing by Joe Brock)