Harmony Gold shareholders supports acquisition of AngloGold Ashanti's Mponeng

Harmony CEO Peter Steenkamp believes the acquisition remains a perfect fit for the group.

Harmony Gold shareholders have unanimously supported the company’s R3.31 billion capital raise for the acquisition of AngloGold Ashanti’s remaining Mponeng mine and Mine Waste Solutions (MWS) in South Africa. 

Harmony Gold CEO Peter Steenkamp told media on the sidelines of the company’s extraordinary general meeting that the acquisition of Mponeng and MWS remained a perfect fit for the group, adding that the Covid-19 pandemic had a short-term impact on the deal. 

Harmony had initially planned to fund the transaction through debt facilities and cash, however, the uncertainty of Covid-19 compelled the company to approach its shareholders for funding. 

Peter said the group expected to finalise the transaction by the end of this quarter and that the only outstanding condition for the transaction was the Section 11 transfer of mining rights.