AngloGold Ashanti to sell SA assets to Harmony Gold for $300 mln

AngloGold Ashanti said yesterday it will sell its remaining South African assets for about $300 million to Harmony Gold.

The gold miner said in May it will review divestment options for its South African assets, which include the world’s deepest mine, as it looks to streamline its portfolio and focus on assets that deliver higher returns.

AngloGold said the deal includes a cash and deferred payment totalling about $300 million, subject to subsequent performance, with additional proceeds due if the West Wits assets are developed below current infrastructure.

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