AngloGold To Sell Last South African Mine As Era Comes To An End

AngloGold Ashanti Ltd. plans to sell its last South African mine, marking the exit of Anglo American Plc and the companies it spawned from the industry that created Africa’s biggest economy.

Anglo’s creation in 1917 by Ernest Oppenheimer and the subsequent development of what was for decades the world’s biggest gold industry underpinned the development of South Africa into the continent’s preeminent economy. Its retreat from the industry, which has become expensive and dangerous as mines extended miles underground, began in 1998 when Anglo merged its separate gold subsidiaries to create AngloGold Ltd.