AngloGold Ashanti has sold its last remaining asset, the Mponeng mine, to Harmony Gold, the global gold mining company announced this week. The $300-million deal marks the official exit of the mining giant from South Africa’s gold mining industry after 22 years on the JSE.
AngloGold said that selling the Mponeng mine was part of its plan to shrink its portfolio and focus on assets with higher returns so that it could shift its primary listing to London or Toronto.
Harmony said that the acquisition of the Mponeng mine and surface assets would help replenish its South African reserves and boost its output. – Zoë van Rooyen