AngloGold Ashanti announced it would spend $500million (R5.83billion) to reopen its Obuasi mine in Ghana. Picture: Bloomberg News

JOHANNESBURG - AngloGold Ashanti announced on Friday that it had completed the sale of the Moab Khotsong mine and related assets in South Africa to Harmony Gold.

AngloGold Ashanti also completed the separate sale of the Kopanang Mine and related assets and liabilities to Heaven-Sent SA Sunshine Investment which was announced in October last year. Both transactions closed on February 28.

The gold miner said  gross cash proceeds from these transactions of R3.574 billion had been received and applied to reduce debt, in line with its commitment to continually improve strategic and financial flexibility.

AngloGold's remaining South African assets include the Mponeng underground gold mine, which is currently ramping up production from its below 120 level life-extension project, and two surface operations comprising its mine waste solutions tailings dump-retreatment and rock dump reclamation and processing businesses. 

Together, these South African operating units will account for about 13 percent of AngloGold Ashanti's total annual production.

 - African News Agency (ANA)