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.
The company said the transaction will strengthen its position as a robust, cash-generating gold miner.
Continue Reading Below
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.
Write to Dimitrios Kontos at email@example.com
(END) Dow Jones Newswires
October 19, 2017 01:37 ET (05:37 GMT)