Monday, 24th May 2004 (3450 views)

AngloGold Ashanti (ANG) has revealed plans to become a world leader in gold for Africa and the global gold equity of choice.

This weekend the gold miner which was set up in late April promoted and launched itself, hoping to rival US firm Newmont to become the world's largest miner of the precious metal.

Company president Dr Sam Jonah told Business Day: "For us in the gold mining industry...2004 has brought great promise, because it has brought about a marriage of two African giants."

According to CEO Bobby Godsell, the new group is hoping to find new gold in countries it already operates in as well as looking into new localities such as Asia.

The merger is thought to have been the largest private sector deal completed in Africa.

AngloGold Ashanti has annual gold production of nearly seven million troy ounces and has one of the world's largest gold reserve and resource bases.

 

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