HomeGoldAngloGold keeps Morila

AngloGold keeps Morila

The Morila pit east
pushback in Mali
Johannesburg, South Africa — MININGREVIEW.COM — 16 May 2008 – AngloGold Ashanti – one of the world’s top gold producers with 21 operations located in 10 countries on four continents – has decided against selling its interests in the Morila mine in the west African country of Mali.

A news release issue here said AngloGold Ashanti had terminated the process related to the proposed sale of its interests in Morila Limited. This was due to the fact that no proposals had been received which met the company’s value criteria for such a sale.

It added that this meant that AngloGold Ashanti would remain a joint venture partner in Morila Limited, together with Randgold Resources Limited and the Government of Mali. Randgold Resources would continue as the operator of Morila gold mine.

Randgold discovered Morila, but sold a 40% stake to AngloGold in 2000 to help finance development of the mine. They each hold a 40% stake, with the government of Mali owning the remaining 20%.

Today’s AngloGold Ashanti statement said the company looked forward to working together with Randgold Resources and the Government of Mali, to further the success of the Morila Gold Mine.