AngloGold exits ASX

Gold miner AngloGold Ashanti has voluntarily delisted from the Australian Securities Exchange (ASX), citing low trading frequency and low volumes of securities traded.

The company expects the delisting will occur on June 27, however shares will still be traded in South Africa on the Johannesburg Stock Exchange (JSE), in the US on the New York Stock Exchange (NYSE) and in Ghana on the Ghana Stock Exchange (GhSE).

“The company believes that the administrative and compliance obligations and costs associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a whole,” the company said in a statement.

AngloGold also said that the company’s CHESS Depositary Interests (CDIs) held on the ASX have declined to approximately 4.1 per cent of the company’s total issued share capital, and represent less than 0.1 per cent of the year-to-date average daily trading value of the company’s equity securities across all exchanges.

AngloGold’s primary listing will now be the US in order to access a larger pool of investors.

“There are strategic reasons why we did this. By far the largest pool of gold capital is in the U.S and it was clear that a secondary listing incorporating South Africa was restricting access to that pool of capital,” AngloGold chief executive officer Alberto Calderon told Reuters in an interview.

The company has recently been focussing on reducing its Scope 1 and 2 emissions at its sites.

Having already reduced its absolute emissions by more than two thirds since 2007, AngloGold is committed to achieving net zero emissions by 2050.

Australian Mining.

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