AngloGold Ashanti is taking steps to raise $2.1 billion in capital. The gold miner announced on Wednesday that it “planned to spin off its international mining operations into a new entity listed in London,” reports The New York Times.
While the company’s headquarters would remain in South Africa, “the new entity would base gold production and exploration assets outside the country, the company said. International operations accounted for about two-thirds of AngloGold’s production in 2013.”
The company noted that “the separation would simplify the structure of its businesses and allow their management teams to be more economically competitive. Separate listings would also allow the companies to be more appropriately valued by investors…”
On Tuesday, September 9, the day’s biggest mover was the price of Chinese platinum bar, which saw a 1.0 percent decline to CNY 294.00 ($47.87) per gram. The price of US platinum bar steadied at $1,394 per ounce following two-days of dropping prices. The price of Japanese platinum bar held steady at JPY 4,783 ($45.06) per gram.
The price of Japanese palladium bar remained essentially flat at JPY 3,023 ($28.48) per gram. The price of US palladium bar remained essentially flat at $881.00 per ounce. The price of Chinese palladium bar remained steady at CNY 194.00 ($31.59) per gram.
Chinese gold bullion prices saw a 0.8 percent decline to CNY 248.30 ($40.43) per gram. The price of Indian gold bullion fell 0.7 percent to INR 27,403 ($453.13) per 10 grams. Following a 0.1 percent rise yesterday, the price of US gold bullion closed at $1,256 per ounce. The price of Japanese gold bullion showed little movement yesterday at JPY 4,285 ($40.37) per gram.
Indian silver finished the day down 0.5 percent to INR 41,866 ($692.29) per kilogram. After falling for two days, the price of US silver rose 0.2 percent to $19.02 per ounce. Chinese silver ended the day at CNY 4,170 ($679.00) per kilogram, after the 0.1 percent drop on Tuesday. Japanese silver saw little change in its price yesterday at JPY 647.00 ($6.09) per 10 grams.