AngloGold Ashanti (NYSE: AU) is selling its assets in South Africa to Harmony Gold (NASDAQ: HMY) in a deal worth about US$300 million. Harmony Gold…
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The acquired company holds or has rights to a title package comprised of mining concession agreements covering approximately 35,747 hectares of land.
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AngloGold already started a planned 17,000-metre, Phase 2 drill program on the property.
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According to the Responsible Mining Foundation, most of the companies assessed show little or no evidence of efforts to strengthen the gender balance of their leadership and governance teams.
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Work is scheduled to begin in the June quarter, with first gold expected in the second half of 2020.
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The miner has completed the first week of underground development blasting at its Obuasi mine, in Ghana.
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The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.
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Bloomberg speculated two South African firms could combine to create 6 million ounce per year producer as merger fever grips gold mining industry.
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A prefeasibility study into the development of a mine beneath the Boston Shaker pits confirmed the technical and financial viability of an underground mine at AngloGold Ashanti and Independence Group’s Tropicana operation.
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