AngloGold Ashanti’s move to the New York stock exchange makes a lot of sense — but it’s also cause for deep introspection in South Africa.
AngloGold Ashanti left South Africa in 2020 when it sold Mponeng, the last mine in its local portfolio. Nonetheless, the announcement last week that the South African Reserve Bank had approved a primary listing of the firm’s shares in New York seemed momentous to the country’s mining sector.
That is partly because it comes at a time when South Africa has never looked less attractive to investors. A perfect storm of politics and macroeconomics has sent the rand plummeting against the dollar. Still, AngloGold CEO Alberto Calderon insists the switch in primary listing is “not about South Africa”. ..
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