Johannesburg - The new chief executive of AngloGold Ashanti [JSE:ANG] said on Monday he did not see much value from splitting off the group's South African assets as rival Gold Fields has done.
"The value enhancement is not compelling," Srinivasan Venkatakrishnan said at a presentation of the group's first- quarter results when asked if the company could follow Gold Fields and hive off local operations.
Gold Fields spun off most of its South African operations earlier this year and its share price has fallen about 35% in the over 2 months since. Costs are soaring in South Africa, which has the world's deepest mines, and labour militancy is also on the rise.