Ghana-based mining firm Ashanti Goldfields on Thursday announced that its shareholders have voted overwhelmingly in favour of the group’s merger with South African-owned AngloGold.
Ashanti said that subject to approval by the High Court of Ghana on April 23, the merger would become effective on April 26 — creating the world’s largest gold producer.
”Ashanti Goldfields Company Limited is pleased to announce that Ashanti shareholders have today voted overwhelmingly in favour of the resolutions required to approve the merger with AngloGold Limited,” Ashanti said in a statement to the London Stock Exchange.
”Subject to receiving the confirmation of the High Court on 23 April 2004, the merger is expected to become effective on 26 April 2004… with dealings in new AngloGold Ashanti securities commencing on 27 April 2004,” it added.
Ghana’s parliament approved the merger in February.
The merged company, to be known as AngloGold Ashanti, would become the world’s largest gold producer with 26 mines on four continents, producing 7,5-million ounces of gold per year.
AngloGold is 51-percent owned by South African mining giant Anglo American, while Ghana’s government owns 16,9% of Ashanti. – Sapa-AFP