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Harmony Gold to tap shareholders to raise US$100M for Moab Khotsong acquisition

Harmony Gold Mining Co. Ltd. intends to raise about US$100 million via a private share placement or a rights issue to refinance part of the bridging finance for the acquisition of the Moab Khotsong gold-uranium mine in South Africa.

The other half of the US$200 million bridging finance facility will be refinanced from internal cash resources, the company said Dec 6.

The previously announced acquisition from AngloGold Ashanti Ltd. has a total price tag of US$300 million for various assets in the Vaal River region of South Africa.

The company will finance the remaining US$100 million from existing bank facilities, the company noted.