Deals
AngloGold Upbeat on Africa Even as Mine Uncertainty Persists
- Mining law changes threaten profits at Tanzania, Congo mines
- Issues seen eventually resolved; may sell South African assets
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AngloGold Ashanti Ltd. remains upbeat on its African assets even as new mining rules threaten profits at two of the company’s key mines.
The world’s third-largest gold producer is mired in disputes with the governments of Tanzania and the Democratic Republic of Congo over law changes that raise taxes in the countries, where AngloGold gets the bulk of its African metal from. Still, those challenges will probably “eventually be corrected,” outgoing Chief Executive Officer Srinivasan Venkatakrishnan said.