AngloGold: Tax key to spin off
03 March 2013
Posted by: SAIT Technical
New York - AngloGold Ashanti,
Africa’s largest producer of the metal, said the tax implications of spinning
off its South African operations will be an important factor in determining
whether it proceeds with the idea.
"Tax will be one of the key
determinants in which way we go,” Executive Director Tony O’Neill yesterday in
an interview with Bloomberg Television’s Alix Steel in Hollywood, Florida,
where BMO Capital Markets is holding a mining and metals conference.
"We have tax in different countries.
That seems to be significant.”
Billionaire investor John Paulson,
whose hedge fund is the biggest shareholder in AngloGold, has said the
Johannesburg- based mining company might increase in value if it were to split
its business between South African assets and operations outside the country.
Gold Fields, another South African
gold miner in which Paulson invests, said in November it plans to spin off most
of its operations in the country.