NEW YORK: South Africa’s AngloGold Ltd says Ashanti Goldfields’ top shareholder has agreed to support its US$1.1bil acquisition of the Ghana-based mining company, but the transaction’s fate still rests with the government.
Formally unveiled on Monday after being publicly proposed in May, the merger would, if approved, bring AngloGold neck-and-neck with rival Newmont Mining Corp as the world’s top gold producer, and bolster the company’s long-term reserves by more than 30%.
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