https://www.miningweekly.com

Moab Khotsong deal concluded

20th February 2018

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) - Harmony Gold on Tuesday said all conditions precedent to its acquisition of Moab Khotsong from AngloGold Ashanti had been met and that the transaction would become effective on March 1.

"The integration of Moab Khotsong will enhance the quality of our portfolio and boost our cash flows," said Harmony CEO Peter Steenkamp.

The Department of Mineral Resources last week granted the transfer of the Moab Khotsong mining right to Harmony, fulfilling one of the most important conditions precedent towards the completion of the transaction, for which $100-million equity is to be raised.

Harmony is aspiring to become a 1.5-million-ounce-a-year producer with the help of Moab, while gold price hedging is continuing as one of the shields against the potential cost blows induced by the strengthening rand.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.339 0.376s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: