Gold Fields and AngloGold Ashanti have opted to suspend their discussions on merging two mines in Ghana, more than two years after their initial proposal for the joint venture.

The companies have mutually agreed to “pause discussions” regarding the merger of the Iduapriem and Tarkwa assets, allowing each to focus on enhancing their independent operations, as revealed in announcements from Gold Fields and AngloGold on Tuesday.

This proposed joint venture had the potential to establish the largest gold mine in Africa. However, negotiations faced delays due to the former government’s unwillingness to grant permission prior to its defeat in December, requiring renewed discussions with the new administration under President John Mahama.

Gold Fields’ Tarkwa mine produced 537,000 ounces of gold last year, while AngloGold’s Iduapriem yielded 237,000 ounces.

Recently, the Ghanaian government made a rare move to deny the renewal of Gold Fields’ Damang mine lease—a smaller operation nearing the end of its productive life—before ultimately consenting to a 12-month extension. The Johannesburg-based firm has stated its intention to seek an extension for Tarkwa’s mining rights, which are set to expire in 2027.

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