Sun, Sep 08, 2019 - Page 14 News List

AngloGold’s last SA mine is luring buyers


While Mponeng would complement their existing operations, neither Harmony, nor Sibanye is flush with cash.

Sibanye reported a first-half loss and is burdened by debt piled up during a string of acquisitions in the platinum industry.

Harmony reported a loss for the 12 months through June.

AngloGold could be open to receiving part payment in future cash flows from Mponeng — similar to the deal Sibanye concluded when it bought mines from Anglo American Platinum Ltd, said James Bell, an analyst at RBC Capital Markets.

“I think they are willing to be more flexible potentially on valuation but the key message is this is no fire sale,” he said. “If they are getting low-ball offers, I don’t expect them to sell just to get the assets off the books.”

Commodity prices:

‧ On Friday, gold fell US$9.20 to US$1,506.20 per ounce, silver fell US0.69 to US$17.97 per ounce and copper was unchanged at US$2.62 per pound.

This story has been viewed 3444 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top