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AngloGold Ashanti says goodbye to South Africa

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The South African mining giant AngloGold Ashanti has sold its last two operating assets in South Africa.

The mining group said gold-miner Harmony would acquire its Mponeng gold mine and surface assets with a combination of cash and deferred payments valued close to US$320 million.

AngloGold’s sale of the mine comes in the midst of the country’s rolling blackouts due to power supplier Eskom’s failure to produce enough electricity to supply business and other clients.

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.

The firm, which has business interests in Ghana, said it is looking offshore for less risky investments.

– APA

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