Friday, 10th September 2004 (2647 views)

AngloGold Ashanti has revealed it has agreed to sell all its mining operations in Zimbabwe to Mwana Africa Holdings.

The sale for approximately R15 million had been considered for "quite some time" according to spokesman Steve Lenahan.

However, the transaction is still conditional and will only go ahead once Mwana gets particular approvals from Zimbabwe and the South African Reserve Bank.

AngloGold Ashanti president Sam Jonah said: "The sale of Freda-Rebecca to Mwana is entirely consistent with our policy of disposing of shorter life. We want to concentrate on our financial and managerial resources we believe will generate long-term value for shareholders".

The Freda-Rebecca Gold Mine based near Bindura last produced 51,091 ounces of gold in 2003.

 

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