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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (768)9/5/2001 3:46:28 AM
From: craig crawford  Read Replies (1) of 1643
 
Anglogold bids $2.3 bln for Normandy
marketwatch.com

SYDNEY (CBS.MW) -- AngloGold, the world's largest gold miner, made an offer Wednesday to buy Normandy Mining, Australia's biggest gold producer, for A$4.4 billion ($2.3 billion) in stock and assumed debt.
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AngloGold said that, after the deal is completed, its larger asset base and production capability would give the company "the flexibility to close or dispose of lower margin operations, and the capacity to acquire attractive assets."

AngloGold's annual production amounted to some 7 million ounces of gold as of the end of 2000. The company holds ore reserves of 88 million ounces and resources of 398 million ounces
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