AngloGold Ashanti closes South African Asset Sale

AngloGold Ashanti has announced that the sale of its remaining mines in South Africa to Harmony Gold Mining Company Limited has concluded, and the initial $200 million cash payment has been received.

Harmony will now assume full ownership of the portfolio of assets and associated liabilities from today, 1 October 2020. This follows the unconditional approval of the transaction by South Africa’s Department of Mineral Resources and Energy, earlier this month.

The proceeds from the transaction will be used to further reduce debt.

“Concluding this sale has been important to the execution of our strategy, while also providing

certainty for the long-term and responsible development of these assets,” said Christine Ramon, the interim Chief Executive Officer of AngloGold Ashanti.

“We wish the employees of our South African operations all the very best in future as they embark on this new chapter in the life of these assets.”