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01 Jul 2008 10:22
South African gold producer AngloGold Ashanti said on Tuesday it had finalised its 100% acquisition of United States gold miner Golden Cycle Gold Corporation.
The world’s third-biggest gold producer said shareholders of Golden Cycle had approved the merger, effective from July 1.
“We are extremely pleased that Golden Cycle shareholders have approved the transaction that will enable us to continue to consolidate the full mineral endowment at Cripple Creek & Victor Gold,” Mark Cutifani, CEO of AngloGold, said in a statement.
Golden Cycle’s primary mining activities are in Colorado, where it has a joint mining venture with AngloGold through Cripple Creek & Victor Gold Mining Company.
AngloGold said it would also own 100% of Cripple Creek & Victor Gold Mining Company as a result of the merger.—Reuters
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