Anglo American will no longer mine gold

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RAPAPORT reports that Anglo American, a parent company of De Beers, will no longer mine gold. The company, which has been involved in gold mining since its inception, sold its remaining 11.3 percent stake in
“Consistent with Anglo American’s stated intention to dispose of this non-core holding, Anglo American no longer owns any shares in AngloGold Ashanti,” Anglo explained. Anglo plans to use the proceeds from the sale for general corporate purposes.