AngloGold prepares to give up on South Africa

Section:

And why not? The country has already given up on itself.

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AngloGold Says There's No Escaping Demise of South African Gold

By Felix Njini, Antony Sguazzin, Sam Mkokeli, and Paul Burkhardt
Bloomberg News
Monday, July 23, 2018

South Africa's gold industry, once the world;s largest, faces an inevitable decline, according to the chairman of the country's biggest producer of the metal by market value.

Output will continue to shrink as miners chase ever-deeper ore bodies while struggling to keep costs down, said AngloGold Ashanti Ltd. Chairman Sipho Pityana. That means the Johannesburg-based company has decisions to make about its future in the country.

... Dispatch continues below ...



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"Gold is a sunset industry," Pityana said in an interview last week in Bloomberg’s Johannesburg office. "It doesn't matter what you do, it doesn't matter how you do it, you are not going to be able to change that." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-07-23/anglogold-says-there-...

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