Competition Tribunal approves Harmony-AngloGold transaction

The Competition Tribunal has unconditionally approved Harmony Gold’s acquisition of Mponeng gold mine, other assets and other related liabilities from AngloGold Ashanti. The purchase price includes $200-million in cash, plus a deferred payment of up to $100-million. As Mining Weekly has reported, the deferred payment will include $260/oz payable on all underground production sourced within the West Wits mineral rights, comprising the Mponeng, Savuka and TauTona mines, in excess of 250 000 oz/y for six years from January 1, 2021.

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