AngloGold tipped for asset clear-out

[miningmx.com] – ANGLOGOLD Ashanti was tipped to undertake a number of asset sales in order to reduce $3.2bn in debt which is the highest of all the major gold producers, said Bloomberg News citing analyst reports.

The company could sell non-core assets such as Serra Grande in Brazil, Iduapriem in Ghana and several aging mines in Mali, said Andrew Byrne, an equity analyst at Barclays.

“They will look to dispose of assets,’ said Jon Brager, a credit analyst at Hermes Fund Managers. “Everyone agrees that the business needs to reduce debt in order to execute its long-term strategy.’

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