{"id":362,"date":"2018-02-28T11:14:00","date_gmt":"2018-02-28T08:14:00","guid":{"rendered":"https:\/\/www.muhunda.co.tz\/?p=362"},"modified":"2018-03-09T18:28:36","modified_gmt":"2018-03-09T15:28:36","slug":"anglogold-seeks-talks-to-break-impasse-on-mine-laws","status":"publish","type":"post","link":"https:\/\/www.muhunda.co.tz\/?p=362","title":{"rendered":"AngloGold Seeks Talks to Break Impasse on Mine Laws"},"content":{"rendered":"<address class=\"lede-text-only__byline\"><em>Danielle Bochove and Felix Njini\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/em><\/address>\n<ul class=\"abstract\">\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">CEO says he\u2019s waiting for Tanzania to set date for talks<\/div>\n<\/li>\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">AngloGold may sell some mines if the price is right, CEO says.<\/div>\n<\/li>\n<\/ul>\n<p><a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/ANG:SJ\" rel=\"nofollow noopener\">AngloGold Ashanti Ltd.<\/a>\u00a0is seeking talks with the Tanzanian government to break a deadlock over changes to mining laws that the firm has said it will challenge through arbitration.<\/p>\n<div class=\"hardwall\" data-position=\"1\">\u00a0\u201cWe have reached out to the government for negotiations,\u201d Chief Executive Officer Srinivasan Venkatakrishnan said in an interview with Bloomberg Television at a\u00a0<a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/BMO:CN\" rel=\"nofollow noopener\">Bank of Montreal<\/a>\u00a0mining and metals conference in Florida. \u201cWe are agreeing the logistics on when we meet with the government.\u201d<\/div>\n<figure data-type=\"video\" data-id=\"324386570\" data-image-type=\"chart\" data-image-size=\"full\" data-align=\"center\">\n<div class=\"video-player\">\n<div id=\"player-FSxbak0\" class=\"video-player__container\" data-bmmrid=\"G0f40Mz2SIaZQkU3qcAHwA\" data-url=\"https:\/\/www.bloomberg.com\/news\/videos\/2018-02-26\/anglogold-ceo-says-he-s-seeking-talks-with-tanzanian-gov-t-video\" data-autoplay=\"false\" data-poster=\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/i8K3sXnztSSY\/v5\/-1x-1.jpg\">\n<div class=\"bvp-playlist-player bvp-playlist-player--last vjs-tech-hlsjs\" data-breakpoints=\"320 640 800\">\n<div class=\"bvp-playlist-player__container\">\n<div><a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2018-02-26\/anglogold-ceo-says-he-s-seeking-talks-with-tanzanian-gov-t-video\">https:\/\/www.bloomberg.com\/news\/videos\/2018-02-26\/anglogold-ceo-says-he-s-seeking-talks-with-tanzanian-gov-t-video<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/figure>\n<p>Last year, Tanzania\u00a0<a title=\"Tanzania Passes Laws Enabling Renegotiation of Mining Deals (3)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-07-04\/tanzania-lawmakers-back-bills-enabling-state-to-scrap-mine-deals\" target=\"_blank\" rel=\"noopener\">approved laws<\/a>\u00a0that enable it to renegotiate contracts with mining companies as well as other measures such as higher royalty payments. AngloGold, which plans to extend the life of its Geita mine in the country, has since lodged an appeal with the United Nations Commission on International Trade Law to have a mine development agreement it signed with Tanzania in 1999 upheld.<\/p>\n<p>The Johannesburg-based company supports Tanzania\u2019s attempts to improve citizens\u2019 living standards and root out corruption, Venkatakrishnan said. The government has been in a year-long\u00a0<a class=\"terminal-news-story\" title=\"Acacia Considers Selling Stake in Gold Mines in Tanzania (1)\" href=\"https:\/\/www.bloomberg.com\/news\/terminal\/P49GNP6TTDS0\" target=\"_blank\" rel=\"nofollow noopener\">fight<\/a>\u00a0with another producer, Acacia Mining Plc, after placing a ban on mineral concentrate exports and saying that firm under-reported the value of its shipments.<\/p>\n<div class=\"hardwall\" data-position=\"4\">\u00a0Other Mines<\/div>\n<div data-position=\"4\"><\/div>\n<p>AngloGold, which has sold some South African mines following heavy losses, last week said it will\u00a0<a title=\"AngloGold to Revive Ghana Mine That Battled Illegal Miners (1)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-02-20\/anglogold-to-revive-idled-ghana-mine-that-battled-illegal-miners\" target=\"_blank\" rel=\"noopener\">reopen<\/a>\u00a0its idled Obuasi mine in Ghana after the country approved a plan to redevelop the asset as a more profitable, mechanized operation.<\/p>\n<p>The CEO said AngloGold will \u201cnever say never\u201d on moving its primary listing from Johannesburg, may still sell more mines and is also open to partnerships at Obuasi.<\/p>\n<p>\u201cWe are quite comfortable with the diverse nature of the portfolio,\u201d Venkatakrishnan said. \u201cHaving said that, for the right offer, every one of the assets we have to look at in terms of potentially putting it on a disposal track if we choose to.\u201d<\/p>\n<p>He declined to comment when asked if London would be a logical place for the primary listing, saying only that\u00a0a shift from Johannesburg is \u201ccertainly an option we have to continue to look at. Whatever delivers best value for shareholders we\u2019ll look at.&#8221;<\/p>\n<p>Mining companies in the\u00a0<a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/45441Z:US\" rel=\"nofollow noopener\">Democratic Republic of Congo<\/a>, where AngloGold has a joint venture with\u00a0<a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/RRS:LN\" rel=\"nofollow noopener\">Randgold Resources Ltd.<\/a>, are optimistic that President Joseph Kabila will return a proposed, controversial mining code back to Parliament, Venkatakrishnan said.<\/p>\n<p><em>\u2014 With assistance by James Attwood.<\/em><\/p>\n<p>More Info\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-02-26\/anglogold-seeks-tanzania-talks-to-break-impasse-on-mine-laws\">https:\/\/www.bloomberg.com\/news\/articles\/2018-02-26\/anglogold-seeks-tanzania-talks-to-break-impasse-on-mine-laws<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Danielle Bochove and Felix Njini\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 CEO says he\u2019s waiting for Tanzania to set date for talks AngloGold may sell &hellip; <a href=\"https:\/\/www.muhunda.co.tz\/?p=362\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">AngloGold Seeks Talks to Break Impasse on Mine Laws<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-362","post","type-post","status-publish","format-standard","hentry","category-dse-stocks-bonds"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts\/362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=362"}],"version-history":[{"count":0,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts\/362\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}