In October 2005, Anglo American announced that it would reduce its shareholding in AngloGold Ashanti. To this end, it sold $1 billion worth of AngloGold Ashanti in April 2006, reducing its shareholding to 41.8%.
In October 2007, the holding was reduced further to 17.3% and at the end of 2007 the holding was 16.6%.
The decision to reduce and ultimately exit gold holding relates to the higher relative valuations attributable to pure-play gold companies, rather than as part of a diversified mining group. Anglo American will continue to explore all available options to exit our remaining stake in AngloGold Ashanti in an orderly manner.
For more information about AngloGold Ashanti, please visit their website: www.anglogoldashanti.com
