Newly appointed chief executive Kelvin Dushnisky said yesterday that the group and IamGold, which collectively own an 82percent interest in Sadiola, had initiated a process to identify third parties that could be interested in acquiring their collective interests in the Mali mine. “The process is at a very preliminary stage and there is no certainty of its outcome,” Dushnisky said.
The proposed Sadiola sale follows moves by the group to reduce operations in South Africa to 13percent of total production last year after selling Moab Khotsong mine to Harmony Gold for $300million.
The group also sold the Kopanang mine to Hong Kong-headquartered Chinese capital management company Heaven-Sent Sunshine Investment Company for R100m.
Ian Cruickshanks, the chief economist at the South African Institute of Race Relations, said the sale of the local assets signalled that the future of the mining sector was not in South Africa.