Harmony Gold Mining Co. Ltd. (HAR.JO) said Thursday that it has formed an agreement with AngloGold Ashanti Limited to buy the Moab Khotsong underground mine in South Africa for $300 million in cash.
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The company said the transaction will strengthen its position as a robust, cash-generating gold miner.
The acquisition will boost Harmony Gold's cash flow by more than 60% and grow its underground resources base in South Africa by 38%, it said.
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(END) Dow Jones Newswires
October 19, 2017 01:37 ET (05:37 GMT)