Why AngloGold is ditching SA for the Big Apple
AngloGold Ashanti’s move to the New York stock exchange makes a lot of sense — but it’s also cause for deep introspection in South Africa
18 May 2023 - 05:00
AngloGold Ashanti left South Africa in 2020 when it sold Mponeng, the last mine in its local portfolio. Nonetheless, the announcement last week that the South African Reserve Bank had approved a primary listing of the firm’s shares in New York seemed momentous to the country’s mining sector.
That is partly because it comes at a time when South Africa has never looked less attractive to investors. A perfect storm of politics and macroeconomics has sent the rand plummeting against the dollar. Still, AngloGold CEO Alberto Calderon insists the switch in primary listing is “not about South Africa”. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.