• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Kenya Sets up Online Platform for Women Traders
    Access Bank Zambia decided to coalesce with African Banking Corporation
    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali

    South Africa, US $300 Million Asset Sale Enclosed by AngloGold

    Posted On 13 Feb 2020
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Photo Credit: Depositphotos

    NEW AFRICA BUSINESS NEWS (NABN), Freetown, Sierra Leone- AngloGold Ashanti Limited has sold its own remaining South African properties to Harmony Gold Mining Company, as the corporation quits the gold industry that established as Africa’s biggest economy.

    Harmony will amass the Mponeng mine and ground assets for about US $300 million, according to Johannesburg based on Wednesday, February, 12th 2020 that’s tinier than half the book importance of the assets, according to Harmony, which will become South Africa’s number one gold producer.

    The contract captions the duct from South Africa of AngloGold – a company that arose from a mining empire invented by Ernest Oppenheimer a century back. Heretofore, adopting the helm in September 2018, Chief Executive Officer – Kelvin Dushnisky has stridden to send the operations in Mali and Argentina as the producer concentrates on more fruitful mines in Ghana, Australia and the Americas.

    “This sale helps deliver on our commitment to sharpen our management focus and capital allocation on the highest return investment options available to us,” Dushnisky noted.

    The sale may also pave the way for AngloGold to move its primary listing from Johannesburg. Analysts say that shifting to Toronto or London would narrow the discount that AngloGold shares trade at to larger rivals such as Barrick Gold Corp. The South African gold industry is limited than a fifth of the quantity it was at its cliff and its prestige to the economy is pronto diminishing. It utilizes barely over 100,000 people and with many of the nation’s gold procedures of borderline profitability, extra job slashes are unavoidable.

    Harmony, seconded by billionaire; Patrice Motsepe’s African Rainbow Minerals Limited has existed in hunting for deals to upgrade ebbing budgets and ratings at its South African mines. Harmony stated the accession will strengthen its production by about 350,000 ounces a year, while enhancing its South African stocks by 8.27 million ounces.

    “Harmony has demonstrated its ability to increasing the life of mines it operates in South Africa – sustaining the mine communities surrounding the mining operations, preserving jobs and further unlocking value for its shareholders through increased grades and stronger margins,” CEO Peter Steenkamp said in a statement.

    Harmony will acquire the assets with US $200 million of cash, plus deferred expenditures associated to the feat of the operations. The AngloGold assets had a book usefulness of 9.9 billion rand ($670 million) at the end of 2019, it remarked.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 100 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com  .Africa President of the year will be announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com

     

    The Global International Company
    International Business Consultant Company, Specialize With Companies Want To Do Business or Doing Business In Africa & The United States. Contact:  info@theglobalinternational.com

     

    Invest in Modern Africa
    Africa the Fastest Growing Continent in the World. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    Insurance Partners, LLC, A MBowe Group Company
    Travelling Overseas Need Medical Insurance. Global Medical Insurance! Travel Medical Insurance for Individuals, Families, and Groups! Good Plans for Students, Individuals, Groups and Governments. Contact: info@buyusinsurance.com, Visit: https://thembowegroupinc.business.site/

     

    www.newafricabusinessnews.com
    Africa’s Most Read and Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

     

    For New Africa Business News (NABN) Abdul Rahman Suagibu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    South African Trade Baron Vusi Thembekwayo, Select to Commit with Uganda’s Business Constituency

    Next Story

    Africa’s Business Leaders to Promote “Common Good, Capitalism”

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Kenya Sets up Online Platform for Women Traders

    Posted On 28 Mar 2023

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Posted On 27 Mar 2023

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Posted On 25 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Kenya Sets up Online Platform for Women Traders

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Recent Posts

    • Kenya Sets up Online Platform for Women Traders
    • Access Bank Zambia decided to coalesce with African Banking Corporation
    • Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.