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
Expatriate gold miners in Tanzania have been told they can shut down and leave if they can’t afford a shock new 30% corporate tax announced by Africa’s fourth largest gold producer.
Energy and minerals minister Sospeter Muhongo told parliament the new tax is payable by mining companies that have been operating for more than five years in Tanzania.
Muhongo says Tanzania's gold export earnings rose 31% to $US1.879B last year on higher world commodity prices, and the government wants higher revenues.
Message to the world’s miners: if you can’t contribute to the economy, shut down your mines and leave
An 18% increase in production from its South African operations has helped AngloGold Ashanti to lift its June 2012 quarter (Q2) production by 9% to 1.073Moz, beating its market guidance of 1.04Moz.
Estimated cash cost for the quarter was $US 800-805/oz compared to the forecast $840-$845/oz.
AngloGold credits strong operating performances from the group’s continental African region and the Americas for the result.
South African gold giant AngloGold Ashanti has extended its debt funding profile with the signing of a new $US1B billion five-year unsecured revolving credit facility with its banking syndicate coordinated by Bank of Tokyo-Mitsubishi and Barclays Bank.
The new facility, maturing in July 2017, replaces AngloGold’s existing four-year RCF that was due to mature in April 2014. The new facility was significantly over-subscribed.
First Uranium Corporation's sale of Mine Waste Solutions, owner of a South African tailings recovery project, to AngloGold Ashanti has commenced.
Early in March, First Uranium announced the sale of all of its principal operating assets, including subsidiary First Uranium Pty Ltd.
Consideration for the sale was $US335M cash, which covers all of First Uranium’s shares and associated claims.
First Uranium Pty Ltd indirectly holds the Mine Waste Solutions tailings recovery project.
Despite earlier challenges, holders of shares, notes and debentures in First Uranium Corporation have overwhelmingly endorsed the sale of major company assets in South Africa to AngloGold Ashanti and Gold One International.
The sale of minesite tailing recovery business Mine Waste Solutions to AngloGold and the Ezulwini underground mine to Gold One will deliver $US450M to the company.
First Uranium Corporation shareholders and debt holders have approved the $US335M sale of the Mine Waste Solutions tailings retreatment operation in South Africa’s Vaal River region to AngloGold Ashanti. The transaction is expected to be implemented by the end of June.
AngloGold CEO Mark Cutifani says the purchase provides the company with valuable gold and uranium production and offers significant synergies. The MWS operation is close to AngloGold’s own tailings facilities.
In the end it was a clear-cut decision, with share, note and debenture holders of cash-strapped First Uranium giving overwhelming support to asset disposals
Ahead of the June 13 shareholder meeting, First Uranium Corporation defends its sales of Mine Waste Solutions to AngloGold Ashanti for $US335M and Ezulwini mine to Gold One International for $70M against dissident shareholders.
The company says its critics have failed to put forward an alternative restructuring plan in the face of its significant financial problems.
AngloGold Ashanti has doubled its ownership of the Serra Grande (Crixás) mine in Brazil by purchasing the 50% interest of Kinross Gold Corporation for $US220M cash.
The Serra Grande mine produced 134,000oz gold at a cash cost of $767/oz in 2011. It comprises the Mina III, Mina Nova and Mina Palmeiras underground mines and an openpit mine on the Mina III mineralised zone outcrop, plus a single processing plant.