AngloGold said Harmony was identified as the most suitable party to buy these assets during the nine-month sales process, citing its financial capacity and ability to operate ultra-deep, hard-rock mining assets in South Africa.AngloGold's South African assets include the Mponeng mine, which is the world's deepest gold mine, as well as a surface rock dump processing business and a mine waste retreatment operation.
Harmony, which bought South Africa's Moab Khotsong mine in 2018, said its acquisition of AngloGold's assets provided a strategic, financial, operational and geographical fit. The acquisition increases Harmony's South African reserves by 8.27 million ounces, excluding any reserves at Mponeng below the existing mining infrastructure.
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AngloGold exits SA, sells mines for R4.4bn to HarmonyAngloGold ends its historic exposure to SA, selling its last two operating assets as it looks offshore for safer, less risky investments Instead of attracting more investors, investors are pulling out. The writing is on the wall. RediTlhabi Bastards😒 my grandfather almost died in their mines. He ultimately died destitute without receiving compensation for his injuries They even sell their share in our own land making billions.
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Harmony hot on the acquisition trailHarmony CEO Peter Steenkamp mum on AngloGold Ashanti’s Mponeng mine as a possible acquisition target
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