Anglogold Ashanti shareholders approve South Africa exit

More than 98% of Anglogold shareholders approved the switch, exceeding the required majority of at least 75% at a virtual meeting held on Friday, the company said in a statement.

The proposed reorganization also includes the relocation of Anglogold’s headquarters to London from Johannesburg.

AngloGold, the forerunner of which was founded by industrialist Ernest Oppenheimer a century ago, completed the sale of its South African mines in 2020.

As the geological challenges of some of the world’s deepest gold deposits make mining in South Africa more difficult and costly, the company has shifted its attention to more lucrative mines in Ghana, Tanzania and the Democratic Republic of Congo, as well as Australia and the Americas.

Anglogold CEO Alberto Calderon has said a primary listing in New York would give the miner access to the world’s biggest pool of gold capital.