AngloGold to sell assets to Harmony, earnings disappoint

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

'The minute you see a share come in a little lighter than what the market is pricing in it gets hammered.'

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Harmony hot on the acquisition trailHarmony CEO Peter Steenkamp mum on AngloGold Ashanti’s Mponeng mine as a possible acquisition target
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Lyft Forecasts Disappoint Investors Seeking Faster ProfitLyft Inc. quarterly results and guidance for 2020 disappointed investors who punished the ride-hailing company for not promising profits sooner. The shares dropped more than 5% in extended trading.
Source: dailymaverick - 🏆 3. / 84 Read more »