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13

AngloGold To Conquer Russian Gold Fields

AngloGold Ashanti announced that it would move into Russia

South African-Ghanaian merger AngloGold Ashanti is likely to collaborate with gold juniors and local governments in parts of the world to get its future growth.

?The era of megamergers is over,? said Sam Jonah, the president of AngloGold Ashanti, adding that the company would focus on several greenfield exploration projects in countries such as Russia, China, the Philippines and Laos.

The company also has several brownfield exploration projects, which it plans to advance.

South African company AngloGold earlier this year concluded a $1,3-billion merger with Ghanaian gold company Ashanti Goldfields, creating one of the world?s leading gold producers.

?Collaboration with juniors and governments would be beneficial,? Jonah commented.

Last month, AngloGold Ashanti announced that it would move into Russia, and acquired a 29% stake in the Trans-Siberia Gold company.