AngloGold Ashanti to unlock international value

The announcement by AngloGold Ashanti that it intends to spin off its ex South African based assets into a new UK listed company follows a path taken by Goldfields last year. The decision is part of AngloGolds plan to raise US$2.1 billion in a rights issue. The South African based company will have 6 operating mines whilst the international assets will have 14 assets. Some of the international assets such as Ashanti Obuasi are relatively high cost and could be prime targets for divestment.