Tag: AngloGold Ashanti

Harmony Gold begins phasing in of the first 10MW of solar energy into its electricity mix

Frank

SOUTH AFRICA – Johannesburg Stock Exchange listed Harmony Gold, which is in the process of introducing 30 MW of own-generation solar power into its electricity mix, has begun the phasing in of the first 10 MW of renewable energy generation. “Generating our own power from solar power is the way to go,” Harmony Gold Chief Executive Officer Peter Steenkamp said in response to Mining Weekly during a media briefing. “We’re in the process of introducing 30 MW of power generation on our own solar power. We’ve already started with the first 10 MW of…

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Mining firm AngloGold Ashanti picks Maria Ramos as new chairperson

Frank

SOUTH AFRICA – The board of global gold mining company AngloGold Ashanti has announced the appointment of independent non-executive director Maria Ramos as the new chairperson of the board with immediate effect. Ramos succeeds Sipho Pityana who has resigned from the board. The Board noted the significant contribution made by Mr Pityana to the company since his appointment to the board in 2007 and his appointment as chairperson in 2014. Pityana had chaired the board over a time when AngloGold Ashanti has followed a clear strategy characterised by strict capital…

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AngloGold Ashanti and Barrick Gold conclude sale of their interest in Morila Limited

Frank

MALI – AngloGold Ashanti and Barrick Gold have concluded the sale of their interest in Morila Limited, which owns 80% of the Morila gold mine in Mali, to Firefinch (previously named Mali Lithium) for US$28.8 million. The state of Mali continues to hold the remaining 20%. The net proceeds to AngloGold Ashanti’s account will be US$3.6 million taking into consideration shareholder loans and intercompany payables. Firefinch will seek to extend Morila’s life by accessing satellite resources and adapting the mine’s infrastructure. The company will employ all of Morila’s workforce, providing…

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Anglogold Ashanti launches agribusiness programme to support host communities in Ghana

Frank

GHANA – Gold mining giant AngloGold Ashanti Ghana has launched a new Agri business programme dubbed ‘Obuasi Goes Agro (OGA)’ to support socio-economic development of host communities in Ghana. The programme, launched in Adaase, a farming community in Obuasi, is one of the flagship socio-economic development interventions of AngloGold Ashanti which is part of their three (3) year Social Management Plan. According to AngloGold Ashanti, the social management plan is aimed at bring socio-economic development in its host communities in Obuasi communities. The long-term objective of the plan is to…

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AngloGold Ashanti receives approval to sell its South African mines

Frank

SOUTH AFRICA –AngloGold Ashanti has announced that it has met all the conditions with respect to the sale of its remaining mines in South Africa to Harmony Gold Mining Company Limited. It includes the unconditional approval by the Department of Mineral Resources and Energy for the transfer of the West Wits mineral rights from AngloGold Ashanti to Harmony. Consequently, the transaction is scheduled to close in accordance with the earlier transaction agreement on 30 September 2020, upon which Harmony will assume full ownership and operation of all assets and liabilities…

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AngloGold and Barrick Gold to offload stakes in Mali’s Morilla Gold Mine

Frank

MALI – Gold mining giants, AngloGold Ashanti and Barrick Gold have made public their plans to sell their effective 80% stake in the Morila Gold Mine in Mali to Australia based Mali Lithium. The decision to offload their stakes at the mineral mine which is popularly known as Morilla the Gorilla comes against a backdrop of political crisis occasioned by a military coup that ended the reign of a democratically elected government. Mali’s President Ibrahim Boubacar Keita resigned and dissolved parliament earlier in August, hours after soldiers held him at…

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Harmony Gold gets a greenlight to purchase the remaining assets of AngloGold Ashanti

Frank

SOUTH AFRICA – The Department of Minerals and Energy (DMRE) has given the green light for the sale of AngloGold Ashanti’s last remaining assets in the country to Harmony Gold on condition that it does not delist from the Johannesburg stock Exchange. Harmony agreed in February to buy rival AngloGold Ashanti’s assets in South Africa, including Mponeng, the world’s deepest gold mine, for about US$300 million. Every sale in the mining industry in South Africa must be approved by the ministry under mineral resources rules in accordance with Mineral and…

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Gold mining giant AngloGold Ashanti reports 376% rise in free cash flow amid surging gold prices

Frank

AFRICA – AngloGold Ashanti, one of the largest gold mining companies operating in Africa has posted a colossal surge in half-year free cash flow generation as prices of gold continued to rise buoyed by increased demand. According to a report by Mining Weekly, AngloGold Ashanti’s free cash flow before growth capital, the metric on which dividends are calculated, rose 376% to $324-million in the first half of 2020, compared with $68-million for the same period last year. Compared with an outflow of $31-million in the same period last year, the…

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AngloGold Ashanti appoints Kojo Busia as independent non-executive director

Frank

GHANA – AngloGold Ashanti, one of the world’s largest gold mining companies has appointed Dr. Kojo Busia to the company’s board as the new independent non-executive director. AngloGold Ashanti said in a statement that Kojo’s appointment was in compliance with the Listings Requirements of the Johannesburg Stock Exchange Limited adding that the appointment was effective as from August this year. According to the statement from the gold mining company, Dr Busia will serve as a member of the Investment Committee and the Social and Ethics and Sustainability Committee, AngloGold Ashanti.…

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AngloGold reaps big from strengthening gold prices, earnings jumps by 72%

Frank

GHANA – AngloGold Ashanti has reported a 72% leap in annual earnings boosted by higher bullion prices and its Kibali joint venture in Democratic Republic of Congo, GhanaWeb has reported. The gold miner which is still forging ahead with a disposal plan to focus on higher returns said it was selling its last remaining South African assets to Harmony Gold for $300 million. Chief Executive Kelvin Dushnisky said the company is working hard to deliver on its strategy and capture higher margins in the current strong environment for gold prices.…

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