AngloGold Ashanti Provides Update on Status of South African Assets
(Press Release) – AngloGold Ashanti notes the announcement on Monday evening by
South Africa’s State President Cyril Ramaphosa that the country would go into a nationwide
lockdown for 21 days in an effort to slow the spread of COVID-19.
The health and safety of our employees remains our first priority. AngloGold Ashanti is fully
supportive of efforts to slow the spread of COVID-19, and is working alongside the
authorities in this regard.
As a result of the President’s order, AngloGold Ashanti will temporarily suspend production
from its South African Operations for three weeks as of midnight on 26 March 2020. These
operations will be safely placed into care and maintenance over that period. Plans will be
developed to help safely regain production delayed by this shutdown, where possible.
The South African operations include the Mponeng Mine, Mine Waste Solutions and surface
rock-dump processing operations. These operations produced 419,000oz for the year ended
31 December 2019.
An agreement has been reached to sell these assets to Harmony Gold Mining Co., a
transaction which is expected to close on about June 30 of this year, subject to certain
conditions precedent. Both parties remain committed to the transaction.
AngloGold Ashanti announced on Friday, 20 March 2020, that it would suspend production
at its Cerro Vanguardia mine in Argentina until the end of the March, in line with a suite of
COVID-19-related work and travel restrictions imposed by the Argentinian Government.
The rest of AngloGold Ashanti’s mines continue to operate, employing a suite of measures
to mitigate the risk of the spread of the COVID-19 virus.
AngloGold Ashanti is continually monitoring the situation related to the COVID-19 outbreak
as it unfolds and remains in close contact with authorities in each country, with our
employees and with our key suppliers and other business partners, to help ensure business
continuity and mitigate any interruptions that may occur.
For additional information on AngloGold Ashanti’s response to COVID-19, please refer to our
courtesy of Bell Direct
( DYOR )
i hold AGG ( 'free-carried ' )