AngloGold Ashanti Limited
AngloGold Ashanti Limited
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AngloGold Ashanti’s $US300M sale of its remaining South African assets to Harmony Gold is on track to close on the agreed Sept 30 date after the Department of Mineral Resources unconditionally approved the transfer of its West Wits mineral rights.
Harmony will pay $200M cash on completion, with contingent payments on future production.
West Australian miner IGO, the original discoverer of AngloGold Ashanti’s Tropicana gold mine, has floated the option of selling out of its 30% JV interest to focus on commodities relevant to clean energy.
After receiving unsolicited approaches from a number of parties, IGO has launched a strategic review of its holding that will involve detailed technical analysis of opportunities to enhance value through underground development and exploration.
Western Australian explorer/developer Mali Lithium is raising up to $A70M to acquire 80% of the operational, 8.7Moz resource Morila Gold Mine in SW Mali.
The company has binding commitments for $64M via a placement at $0.16cps and another $6M from a share purchase plan to buy the respective 40% ownership stakes held by international majors Barrick Gold and AngloGold Ashanti.
Lithium aspirant Mali Lithium gets new major shareholder in Resolute Mining as part of a $70M raising to secure 80% of the Morila Gold Mine in Mali and is already talking strategeic partnership. By Mark Mentiplay
Little-known Australian explorer and developer Mali Lithium aims to find a new lease of life for the Malian gold project that was once known as Morila the Gorilla after agreeing to pay international giants Barrick Gold and AngloGold Shanti $US22M-plus for their combined 80% stake.
Global majors Barrick Gold and AngloGold Ashanti are selling their respective 40% stakes in the Morila gold mine in Mali, with Australian-based developer Mali Lithium agreeing to pay $US22-27M for the current stockpile and tailings treatment operation.
The deal will be subject to acquiescence by the Mali government, which retains 20% of the project.
Increased gold and gold-copper activity across its Australian and Indonesian projects delivered a 41% increase in statutory NPAT of $A64.9M for mining services company Macmahon amid record June year (FY20) earnings and cash-flow.
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.