SA, Ghana to create world's largest gold miner

[dArKeR]

South Africa's AngloGold and Ghana's Ashanti Goldfields look set for marriage soon, creating the world's largest gold producer with 26 mines on four continents.

Ashanti, burdened by high operating costs and problems raising cash to pay short-term debt, received the go-ahead from the Ghana government on Tuesday, although parliament will have the last word on the merger.

The merged company would produce 7,5-million ounces of gold a year.

The bid is subject to government approval here because the Ghanaian government is also the regulator of the target company.

The government, with a 16,9% golden share in Ashanti that allows it to veto any merger or takeover deal, agreed the merger after a hectic emergency cabinet meeting.

http://www.mg.co.za/Content/l3.asp?ao=22975

[Infinite Velocity]

1. ...321GOLD

Thanks for the article dArKeR...

Here's a link for the gold bugs out there....

http://www.321gold.com/

The Interesting & Timeless section has Hubble telescope images too.:)