Delegates cautioned on government policy

摘要

Sam Jonah, president of AngloGold Ashanti Ltd, began his 2005 INDABA presentation by describing how the integration of AngloGold and Ashanti was as "smoothly as one could have expected". In further qualification of the merger, Jonah noted that "while we (the combined entity) have our fair share of problems -- who doesn't?" It was a point not missed by most of those in the audience who are involved in mining in South Africa. Jonah then pointed out that the merger was "well on its way to achieving its objective of combining the two companies into a long life, low cost, high margin investment opportunity". In getting down to the details, Jonah said that during 2004 AngloGold Ashanti had generally had a sound operating performance, recorded its best ever safety performance and was continuing to restructure its hedge book.