AngloGold Ashanti is contending with Newmont and Barrick to be known as the world's largest gold miner. The company has about 70 million ounces of proved and probable reserves and produces about 6 million ounces from its open-pit and underground mines in Africa, Australia, and the Americas; it also has many exploration projects worldwide. In all, the company operates 20 mines in 10 countries. Prior to its 2004 acquisition of Ashanti Goldfields, most of AngloGold's mines were high-overhead, deep-level, hard-rock operations in South Africa (which now account for less than half of sales). UK-based minerals giant Anglo American owns 17% of AngloGold Ashanti but has announced it will divest that stake by 2009.
Sector: Basic Materials
Industry: Metals & Mining
