AngloGold Ashanti yesterday disclosed that its tax bill after it had completed a corporate restructuring had amounted to $286 million (R5.5 billion),
The gold miner recently moved its corporate domicile in the UK and a change of its primary listing from the JSE to the New York Stock Exchange.
The company, which now has its group headquarters in Denver, retains secondary listings on the JSE and the Ghana Stock Exchange.
It said as disclosed in its initial announcement of the restructuring, on May12, the restructuring attracted various tax payments in South Africa and Australia.
These tax payments had now been determined at about $286 million (R5.5 billion), following the successful conclusion of the corporate restructuring transaction.
It said AngloGold had a robust balance sheet, with strong liquidity, low leverage and no near-term maturities, and would fund the tax payments from internal sources.
The tax amounts were calculated based on market prices on September 22 of this year at a closing share price of $18.15, shares in issue of 419685792, and a closing market capitalisation on the NYSE of $7.6bn.
It is expected to release full-year results for 2023 with detailed financial and operating information in February next year.
BUSINESS REPORT