On Friday the world's third-largest gold miner, AngloGold Ashanti, cemented its restructuring plans after it announced the potential disposal of its Kopanang Mine as a measure to return the company to profitability. But the move, which came in the same week that the Chamber of Mines withdrew its application to interdict the Mining Charter, may be what is needed by Harmony Gold to buy the company's assets. Arnold van Graan, an equity analyst at Nedbank Capital, said the withdrawal of the interdict application had created a "window of opportunity to do transactions under the old charter". "With Charter Three being suspended to revert [back to the original] charter, that gives you clarity on what the rules are," he said. The problem with the proposed charter was that it created new rules which were almost impossible to comply with, Van Graan said.
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