Ashanti Goldfields Corporation Limited was founded in 1897 in order to develop a large mining concession in Ghana - an area that is today home to the Obuasi mine and its surrounding pits.  The company operated in its original state until 1969, when it became a wholly-owned subsidiary of Lonrho plc (later Lonmin Plc). The government of Ghana then acquired 20% of Ashanti in exchange for an extension of the company's lease over its key mining area, and this stake increased in 1972 to 55%.  In 1994, however, Ashanti was able to list on the Ghanaian and London stock exchanges after the government agreed to sell nearly 25% of its holding.

In 1996, Ashanti listed on the New York Stock Exchange - the first African company to do so - and began acquiring interests in several important mining areas in Africa.  These properties and operations included Bibiani and Iduapriem in Ghana, Siguiri in Guinea, Freda-Rebecca in Zimbabwe and Geita in Tanzania.  Although AngloGold and Ashanti merged in 2004, all of these operations, with the exception of Freda-Rebecca, remain in the AngloGold Ashanti asset portfolio today.

  History of the Ashanti Goldfields Company (PDF format, 118 KB) 
  History of the Asante (Ashanti) people (PDF format, 80 KB)
  Culture of the Asante people (PDF format, 82 KB)

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