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AU - AngloGold Ashanti News Story

$21.25 -0.8  -3.7%

Last Trade - 12/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £6.74bn
Enterprise Value £7.32bn
Revenue £3.23bn
Position in Universe 974th / 6825

UPDATE 1-Kibali's $500 million should be cleared to leave Congo next month - Barrick CEO

Thu 18th February, 2021 2:21pm
(Adds details, context)
    Feb 18 (Reuters) - Barrick Gold Corp  ABX.TO  Chief
Executive Mark Bristow said the group expected to get $500
million belonging to its Kibali gold mining venture out of Congo
next month, adding that the advent of President Tshisekedi's new
government should help. 
    The gold miner has been in discussions with Democratic
Republic of Congo over how to get the money out for more than a
year. 
    "With the new government now we're pretty sure that that
blockage will be unblocked and we’ll be able to go back to
normal activities," Bristow told Reuters in an interview. 
    Tshisekedi has been consolidating control over the Congolese
government and appointed a new prime minister on Monday, capping
a series of victories over his once-dominant predecessor Joseph
Kabila.  urn:newsml:reuters.com:*:nL1N2KL11D 
    Under Congo's 2018 mining code, miners must return 60% of
revenue from mineral sales to the country to help develop the
economy. The $500 million is excess cash left over after Kibali
repatriated 60% of revenue and paid in-country expenses. 
    Barrick earlier reported a quarterly profit that beat
analysts' estimates, helped by a jump in gold prices.
 urn:newsml:reuters.com:*:nL4N2KO2SK

 (Reporting by Jeff Lewis and Helen Reid; Editing by Jan Harvey
and Barbara Lewis)
 ((Helen.Reid@thomsonreuters.com; +27 66 156 5214;))
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