|
|
|
Thu 29 Jul 2010
Close: 29 100c 
Day's move: -62c (-0.21%)
Volume: 1 145 013
Trades: 2 960
|
|
|
|
AngloGold finalises sale of Tau Lakoa
AngloGold announced that the Department of Mineral Resources has transferred the mining rights for its Tau Lekoa Mine to Buffelsfontein Gold Mines Ltd, a wholly-owned subsidiary of Simmer & Jack Mines Ltd ("Simmers"). Full ownership of Tau Lekoa and the adjacent properties of Weltevreden and Goedgenoeg will pass to Simmers on 1 August 2010. From 1 August 2010, Simmers will treat all ore produced from Tau Lekoa, Weltevreden or Goedgenoeg at its own processing facilities. As a result AngloGold will have increased processing capacity available allowing for the processing of additional material from its other Vaal River mines and surface sources. This is expected to produce an estimated 7 000oz of gold for the remainder of this year.
|
|
Click here for original article
|
| |
AngloGold faces possible Pamodzi lawsuit
Business Day reported Pamodzi Gold's liquidators may respond to AngloGold Ashanti's termination of essential services to the Orkney mines with a counterclaim worth more than R140 million. Lead liquidator Enver Motala of SBT Trust commented that he was investigating whether AngloGold had obtained an undue benefit over the other creditors of the Pamodzi mines at Orkney and Grootvlei, which went into liquidation in April 2009. The mines have been administered by black empowerment group Aurora since late last year, but the company has been unable to complete the acquisition and the mines have ceased operations after workers were not paid. AngloGold announced that it would cease providing services, including water and electricity, to the Orkney mines in North West, saying the liquidators had failed to pay R38 million for services over the past ten months.
|
| |
AngloGold and Gold Fields quiet on merger
The Financial Mail suspects that comments made by AngloGold CEO Mark Cutifani and Gold Fields Ltd CEO Nick Holland indicate that a deal to consolidate their contiguous South African operations is not imminent. A merger would help cut costs, but Sanlam Investment Management analyst, Shoaib Vayej says the chances of a merger of the South African operations are "pretty slim" in the short run.
|
| |
| |
| Click here for full news archive for this company |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
