AngloGold Ashanti (AGA) says its corporate restructuring attracted various tax payments in South Africa and Australia.
It said that following the successful conclusion of the corporate restructuring transaction, it has been established that the tax payments will amount to about $286 million.
“AGA has a robust balance sheet, with strong liquidity, low leverage, and no near-term maturities, and will fund the tax payments from internal sources,” it said.
In South Africa, AGA said it will pay a dividend withholding tax of R4.18 billion ($221 million) payable on or about October 31 and a securities transfer tax of R351 million ($19 million) payable on or about October 13.
In Australia, the company is set to pay an estimated $46 million in landholder duties in the first quarter of 2024.
The restructuring resulted in a corporate domicile in the United Kingdom and a change of its primary listing from the Johannesburg Stock Exchange 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.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
