Newmont Mining Corporation (NYSE: NEM) has completed the acquisition of the Cripple Creek & Victor gold mine in Colorado from AngloGold Ashanti Ltd. for US$820 million, plus a 2.5 percent net smelter return royalty on potential future gold production from underground ore.
Following the announcement of the proposed corporate restructuring and capital raising on 10 September 2014, AngloGold Ashanti has, as planned, engaged extensively with shareholders holding almost two-thirds of its issued share capital, to solicit feedback on these proposals. The proposed restructuring would create a London-listed entity to house the company’s international assets with the South African assets remaining at AngloGold Ashanti, thus creating two simpler and more focused entities.
IAMGOLD Corporation announced that effective February 10, 2014 a minority of employees at the Company's joint venture Sadiola and Yatela mines in Mali embarked on a strike over the issue of redundancy pay packages.
AngloGold Ashanti reports that the Kibali Gold Mine, a joint venture with Randgold Resources, has successfully delivered its first gold production early and within budget to further improve the overall quality of its portfolio by introducing new ounces at costs lower than its current average.
AngloGold Ashanti announced that the Tropicana Gold Mine in Western Australia began production today ahead of schedule and within budget, adding new ounces at below the company’s current average cost structure and so improving the overall quality of its portfolio.
AngloGold Ashanti confirms that it has made an offer to its unionised employees in South Africa, under the auspices of the gold industry’s collective bargaining framework, with the aim of reaching a two-year wage settlement.
The National Union of Mineworkers, Solidarity and UASA (United Association of South Africa) have indicated their members will accept the improved offer and employees, who had embarked on a strike from 3 September 2013 at the Vaal River Operations, have reported for work. The focus will be on a safe resumption of mining and ramp-up of production.
AngloGold Ashanti Limited has continued its strategy of proactively managing its balance sheet by reaching agreement with its two banking syndicates to temporarily relax the financial covenant on both of its revolving credit facilities (RCFs). This is purely a proactive step by the company providing it protection, if required, against volatile market and operating conditions.
AngloGold Ashanti advises the resignation of Mr Anthony Martin O’Neill (‘Tony’) as an executive director from the Board of Directors with effect from 19 July 2013.