End of an era: AngloGold exits South Africa

It's the end of an era as AngloGold Ashanti sells its Mponeng mine.

AngloGold'S historic Obuasi mine. Picture: mining-technology.com

AngloGold Ashanti has sold its remaining South African assets to Harmony Gold for about $300 million (R4.4 billion).

Harmony will acquire the Mponeng mine.

There were a few other bidders but none as serious as Harmony. Anglogold wanted to exit from SA because quite frankly it had other calls on its capital that could be better spent than in South Africa.

David McKay, Author - Miningmx

The actual Mponeng asset is still a 20-year asset. You don't get a lot of 20-year gold assets hanging around in the world.

David McKay, Author - Miningmx

FILE: AngloGold Ashanti's Mponeng Mine in Carletonville. Picture: anglogoldashanti.com

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This article first appeared on 702 : End of an era: AngloGold exits South Africa