AngloGold Ashanti to update on South African asset sale this month – by Tanisha Heiberg and Helen Reid (Reuters U.S. – February 4, 2020)

https://www.reuters.com/

CAPE TOWN, Feb 4 (Reuters) – Bullion miner AngloGold Ashanti , which has embarked on an asset review as it focuses on higher returns, will update the market on the sale of its South African operations later this month, Chief Executive Kelvin Dushnisky told Reuters on Tuesday.

The miner said in May that it will review divestment options for South African assets and has sold its stake in their Sadiola project in Mali for $105 million as it looks to streamline its portfolio and focus on assets that deliver higher returns.

“I expect to be in a position to update with our results on February 21,” said Dushnisky in an interview on the sidelines of an industry conference, the Mining Indaba, in Cape Town.

South African miners Harmony Gold and Sibanye-Stillwater have already expressed interest in AngloGold Ashanti assets. AngloGold Ashanti had no further plans to sell any other assets said Dushnisky.

Its South African assets include Mponeng – the world’s deepest gold mine – a surface rock dump processing business and a mine waste retreatment operation.

For the rest of this article: https://www.reuters.com/article/mining-indaba-anglogold-ashnti/anglogold-ashanti-to-update-on-south-african-asset-sale-this-month-idUSL8N2A41BK

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