AngloGold in talks to sell South African mines

 A picture of gold Photo:Courtesy

AngloGold Ashanti is in talks to sell one of its South African mines, it said on Friday, having previously outlined plans for the mine’s closure as part of a restructuring process.

South African gold mining companies have struggled for growth in their home market as a volatile currency, labour unrest and government plans for new ownership rules have dimmed prospects.

AngloGold said in June it was considering laying off 8,500 workers, 30 per cent of its workforce, to restructure its South African mines, naming the Kopaneng mine as one it planned to shut.