AngloGold Ashanti will have just two major assets left in SA, halving output from the country after agreeing to the sale of its Moab Khotsong and mothballed Great Noligwa mines and uranium assets to Harmony Gold, and selling its Kopanang mine to China’s Heaven-Sent SA Sunshine Investment company, realising nearly R4.2bn in total. AngloGold has retained its Mponeng mine, the world’s deepest mine, as well as its Mine Waste Solutions, a tailings retreatment project. They are both large assets that will generate 14% of the group’s annual production and bring SA in line with output from Australia, Tanzania and Brazil. Mponeng and the tailings operations will generate 450,000oz of gold at $1,021/oz, which is down from the 967,000oz in 2016. Three years ago, AngloGold ditched a short-lived plan to separate its assets into international and local portfolios, entailing a $2.1bn rights issue that ran into stiff headwind from shareholders and since then, some analysts have speculated it could ...
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