HomeEnergy MineralsAngloGold may sell uranium assets

AngloGold may sell uranium assets

The twin shafts
at Tau Lekoa –
one of AngloGold’s
South African
gold operations
Johannesburg, South Africa — MININGREVIEW.COM — 22 April 2008 – Major gold and uranium producer AngloGold Ashanti is reported to be considering the sale of its uranium assets, and has been discussing the possibility with various other parties, reports Bloomberg News.

The report states that the company may merge the assets with those of competitors such as Gold Fields Limited and Harmony Gold Mining Company. AngloGold is reported to have mentioned the possibility in an e-mailed statement confirming a report published by online news agency Miningmx. The company did not identify the parties it talked to.

“We are evaluating options,” AngloGold spokesperson Joanne Jones, said in the statement. “The company is not engaged in formal negotiations with other mining companies,” she added.

AngloGold produces uranium as a byproduct of gold mining in the northwest of South Africa, and sells the metal through its 50% owned unit, Nufcor International Ltd., mainly to energy utilities under long-term contracts. It intends to increase output at its uranium plant by as much as 40 percent by 2009.