AngloGold: Namibian mine sold to QKR

Comment on this story

AngloGold Ashanti would sell its entire interest in AngloGold Ashanti Namibia (AGAN) to a wholly owned subsidiary of QKR Corporation, the company said yesterday. AGAN owns the Navachab open-pit gold mine in western Namibia. “The agreement provides for an upfront consideration based on an enterprise value of $110 million [R1.2 billion] which will be adjusted to take into account AGAN’s net debt and working capital position on the closing date of the transaction.” AngloGold would also receive a net smelter return paid quarterly for seven years. The deal is subject to a number of conditions. AngloGold leapt 6.94 percent to R175.74 on the JSE. – Sapa

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines