Mining companies shut their South African subsidiaries lacking power

By Margarita Snegireva. Mining companies AngloGold Ashanti Ltd., Gold Fields Ltd. and Anglo Platinum Ltd shut their mines as the nation's power shortage worsened, threatening growth and investment in the continent's biggest economy.

Photo: Mining companies shut their South African subsidiaries lacking power

State utility Eskom Holdings Ltd. told mining companies it couldn't guarantee power today, prompting AngloGold and Gold Fields to stop underground operations on concern outages might trap miners.

AngloGold Ashanti Limited is a global gold mining company with mines on four continents. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.

AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents. The company is listed on the New York, Johannesburg, Ghanaian, London and Australian stock exchanges, as well as the Paris and Brussels bourses.

Gold Fields Limited is one of the world’s largest unhedged producers of gold, providing investors with maximum leverage to the gold price. The company was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited.