AngloGold to discontinue London listing to cut costs

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From the Financial Times, London
Monday, August 18, 2014

http://www.ft.com/intl/fastft

The cost-cutting in the gold mining industry has reached London.

AngloGold Ashanti, Africa's gold miner, said it intends to cancel the listing of its shares on the London Stock Exchange to cut costs.

Gold miners have been squeezing costs to cope with a decline in the price of the yellow metal, which has dropped 32 percent since touching $1,900 in September 2011.

AngloGold says the bulk of the trading of its shares is on the Johannesburg Stock Exchange and the New York Stock Exchange. The company added that it "wishes to streamline its administrative procedures and reduce costs arising from listings on multiple stock exchanges."

The miner's shares will stop trading in London on September 22.



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