A surging gold price boosted returns to shareholders as the company bids farewell to unprofitable mines in SA
AngloGold Ashanti CEO Kelvin Dushnisky. Picture: FREDDY MAVUNDA/BUSINESS DAY
Dividends are determined by free cash flow and the company returns 10% to shareholders. Free cash for the year more than doubled to $448m from $217m. The Congolese government owes AngloGold $202m as at end-December after repatriating $75m during the course of 2019. AngloGold agreed the sale of its Mponeng mine — the deepest in the world at 4km below surface — and its tailings retreatment operation Mine Waste Solutions to Harmony Gold for $300m and a further revenue stream from future depth extension projects at the mine.
AngloGold was happy to keep the mine if the offers it received did not match the value the company had placed on the asset, CEO Kelvin Dushnisky said.
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