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AngloGold Ashanti's much lower debt position could make it a takeover target

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Cash-flush AngloGold Ashanti, which recently sold its last remaining asset in South Africa, is roaring ahead with the redevelopment of its Obuasi mine in Ghana which is expected to play a critical role in the future growth plans of the company.

Boosted by higher gold prices which shot up 30% in the reporting quarter to end of September, the company on Monday said part of the proceeds from the cash windfall went towards lowering its debt levels and would benefit the ramp-up of the Obuasi project.

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