AngloGold Ashanti Limited
AngloGold Ashanti Limited
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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.
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.