HomeGoldAnglo sells more shares in AngloGold Ashanti

Anglo sells more shares in AngloGold Ashanti

The twin shafts at
the Great Noligwa
gold mine
London, England — MININGREVIEW.COM — 19 February 2009 – Anglo American Plc – the fourth largest diversified mining group in the world by market value – has sold 10.4 million of its shares in South Africa’s AngloGold Ashanti, further trimming its stake and raising about US$280 million (R2.8 billion) in the process.

Making the announcement here, company spokesman James Wyatt-Tilby told Reuters that Anglo had cut its stake in AngloGold Ashanti – Africa’s largest gold miner and the world’s number three gold producer – from 16.3% to 13.3%

Anglo American has revealed that it eventually plans to dispose of the remaining stake in AngloGold in order to better focus on its core businesses of base metals, iron ore and platinum.

Before it began reducing its stake in AngloGold Ashanti 2006, Anglo American held a majority stake in the company.