Minorco sells gold interests
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MINORCO, the mining group that is in the process of merging with South Africa's Anglo American, yesterday sold its gold interests to AngloGold, an Anglo subsidiary, for $550m in cash. The long-awaited deal gives AngloGold control of mines in North and South America and exploration activities on both continents.
The acquisition follows a competitive auction which was contested by other gold producers. Hank Slack, chief executive of Minorco (pictured), said: "The sale price puts a value on Minorco's assets, which in the past was not reflected in our share price."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments