AngloGold Ashanti Limited
AngloGold Ashanti Limited
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
The surge in gold prices has helped global miner AngloGold Ashanti finish a turbulent June half-year by increasing adjusted EBITDA by 59% year-on-year to $US1.16B and free cash-flow by 671% to $177M from a $31M outflow in the corresponding period.
Strong growth in gold prices has helped global miner AngloGold Ashanti withstand the COVID-19 disruptions and deliver massive growth in free cash-flow for the June half-year (H1FY2020).
The South African-based miner posted adjusted EBITDA of $US1.096B for the six months, up from $689M in the corresponding period, with the 5% decline in gold production to 1.47Moz (H1FY2019: 1.55Moz) offset by the increase in the received price to $1,642/oz ($1,299/oz). AISC grew to $1,031/oz ($1,002/oz).
AngloGold Ashanti has named chief financial officer Christine Ramon as interim CEO during a comprehensive recruitment process following the resignation of Kelvin Dushnisky, the former Barrick Gold president who has led the South African-based International gold miner since mid-2018.
Dushnisky’s resaignation will take effect on Sept 1 but he will assist the group until Feb 28, 2021.
Harmony Gold has raised $US200M after issuing more than 60M new shares to partly fund its purchase of AngloGold Ashanti’s last remaining South African assets, Reuters reports.
Harmony agreed in Feb 2020 to buy AngloGold Ashanti’s Mponeng mine, the world’s deepest gold mine, and its Mine Waste Solutions assets, for about $300M, making it SA’s biggest gold producer.
One of South Africa’s biggest gold miners, Harmony Gold Mining, will start its proposed share sale today to raise $US200M to part-fund its purchase of AngloGold Ashanti’s assets in South Africa for about $300M, Reuters reports.
Harmony agreed on the acquisitions, including the world’s deepest gold mine Mponeng in Feb 2020, to make Harmony SA’s biggest gold producer.
Australia’s gold output for the Mar 2020 qtr has fallen 12% to 77t on Dec 2019 with many operators taking advantage of higher prices in 2019 and early 2020.
AngloGold Ashanti is continuing a voluntary suspension of its Mponeng mine in South Africa’s West Wits mining district after processing of COVID-19 tests yielded 196 positive results from 651 tests processed. The vast majority of individuals were asymptomatic, with the balance showing very mild symptoms.
The company ordered a comprehensive screening, contact tracing and testing program initiative after a positive COVID-19 case was detected last week.
AngloGold Ashanti has credited solid performances from its diverse portfolio of 14 mines in 9 countries for a solid operational and financial start to 2020, a transitional year for the South African international miner following the sales of its Sadiola mine in Mali and its South African portfolio.
March qtr (Q1) gold production of 716,000oz at AISC of $US1,047/oz, including the loss of 11,000oz gold and $18/oz due to COVID-19 restrictions, compares to 902,000oz at $957/oz in the previous period.
Harmony Gold Mining plans to raise up to $US200M via a share issue to fund part of its purchase of AngloGold Ashanti’s last remaining assets in South Africa, Reuters reports.
The assets for sale include the Mponeng mine, the world’s deepest gold mine, for about $300M and would make Harmony the country’s largest gold producer.
Nickel-gold miner IGO is buying an up to 18.4% stake in fellow Australian zinc miner/metals explorer New Century Resources by taking up to $A27M ($US17.12M) of a $51.1M New Century capital raising at $0.15cps.
The 2 company have also agreed to a strategic collaboration spanning New Century's existing tenements, or other mining assets, primarily within the clean energy metals sector.