ABG has ~600Koz Au of current production from our mines in Tanzania. Backed by a resource base of over 32Moz Au this provides a significant, long-life platform for the company to meet its longer-term strategic objectives.
We have a number of advanced, organic brownfield projects which will utilise the existing infrastructure at our current operations. As a result, we are targeting incremental production from this asset optimisation at relatively low capital spend to deliver a high return on investment. Beyond this, we have a range of greenfield options, such as the Nyanzaga Project, to drive our growth into the medium and longer-term.
With over $400 million of net cash on our balance sheet, we have considerable financial flexibility to grow our business both organically as well as through strategic acquisitions in Africa. At the same time, we are committed to returning capital to shareholders.
ABG’s management team has significant experience and expertise in the gold mining industry. This ranges from the early stage identification of sizeable deposits, through to project execution and on to operating substantial mines. In addition, ABG enjoys strong support from its majority shareholder Barrick Gold Corporation, the world’s leading gold miner.
Maintaining our licence to operate through acting responsibly in relation to our people, the environment and the communities in which we operate is a vital part of our corporate ethos. It is of paramount importance in the execution and achievement of our strategic objectives.
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