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Bloomberg: AngloGold, Harmony deal stalls on South Africa mining charter

Published 08/03/2017, 10:59 AM
© Reuters.  Bloomberg: AngloGold, Harmony deal stalls on South Africa mining charter
  • Harmony Gold’s (HMY +0.3%) long-running talks to buy AngloGold Ashanti’s (AU -0.7%) South African assets have stalled because of uncertainty over the country’s new mining regulations, Bloomberg reports.
  • The discussions, which started two years ago, reportedly have hit a snag as South Africa’s government and the mining industry wage a court fight over the Mining Charter, which calls for increased black ownership of assets and imposes extra costs on mining companies.
  • The assets potentially could be valued at $500M-$650M, with HMY buying AU’s Vaal River operations for ~$150M as a possible alternative under consideration, according to the report.
  • Now read: How To Get 6% Discount On Gold And Silver, 12% On Miners And A 10% Dividend


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