Mining Weekly reports that gold producer AngloGold Ashanti (AGA) on Wednesday said that it did not have firm timing for its exit from SA, but that the move would be "sooner rather than later".  

The miner in May this year announced the start of a process to divest of its remaining assets in SA, which include the Mponeng underground mine and a surface rock dump processing business and mine waste treatment operation called Mine Waste Solutions.  AGA vice president for corporate affairs, community and HR, Andrea Maxey said the Mponeng operation would require "significant" investment to extend the mine life beyond the current eight years.  “Relative to the other higher return assets in our portfolio, and given the limited capital, we have come to the conclusion that we are unlikely to be in a position to fund a mine life extension at Mponeng,” Maxey indicated.  AGA senior VP Mike Erickson added that the capital spend required at Mponeng was not the only the deciding factor, with operational safety also playing a part.  AGA will maintain an office in SA, which would act as a central office for its remaining assets in Africa, which include the Obuasi project, in Ghana.

• Read the full original of the above report at Mining Weekly

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