AngloGold Ashanti to dispose of remaining South African mines


By Allan Seccombe
Business Day, Johannesburg
Thursday, May 9, 2019

AngloGold Ashanti is looking at options to dispose of its remaining assets in South Africa, arguing that investments needed to extend their lives would secure better returns elsewhere in the portfolio, sending its shares higher.

AngloGold, the world's third-largest gold miner, has extensively restructured its South African portfolio, selling mines to Harmony Gold and others, leaving it with a single underground mine at Mponeng and two surface operations.

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The Mponeng mine needs a large capital investment in the next few years to deepen the mine, but it is competing against other investments that have better returns in shorter time frames.

"We believe that under the right ownership, our South African assets offer a compelling long-term value proposition that may allow for an extension to Mponeng mine's current life," CEO Kelvin Dushnisky said. ...

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