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Gold Minning In South Africa

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Gugu talks to Rene Hochreiter, Mining Analyst about Harmony Gold buys Anglo Americans Mponeng Mine , Anglo Gold no longer has operations now in SA - is this the end of an era ? AngloGold Ashanti sold its remaining South African assets to Harmony Gold Mining, as the company exits the gold industry that created Africa’s biggest economy. Harmony will acquire the Mponeng mine and surface assets for about R4.41 billion , the Johannesburg-based companies said on Wednesday. That’s less than half the book value of the assets, according to Harmony, which will become South Africa’s No 1 gold producer. The deal marks the exit from South Africa of AngloGold, a company that emerged from a mining empire created by Ernest Oppenheimer a century ago. Since taking the helm in September 2018, chief executive officer Kelvin Dushnisky has moved to sell operations in Mali and Argentina as the producer focuses on more profitable mines in Ghana, Australia and the Americas.
12 Feb 2020 11AM English South Africa Business News · Investing

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