February 19, 2018 / 11:06 AM / a month ago

New South African leadership credit positive for gold miners: Moody's

LONDON (Reuters) - South Africa’s new leadership headed by newly-elected President Cyril Ramaphosa is a ‘credit positive’ for many of the country’s top gold and platinum miners.

A pit head is seen at the Tumela Mine , an Anglo American Platinum open pit mine located in the north-western part of South Africa in Thabazimbi, Limpopo on June 9,2016. REUTERS/Siphiwe Sibeko/File Photo

It added that a resolution of issues around the country’s revised mining charter and finalisation of MRPDA (Mineral and Petroleum Resources Development Act) amendment bill would be credit positive for Anglogold Ashanti (baa3 positive), Gold Fields (ba1 positive) and Sibanye Gold (ba2 stable).

Reporting by Marc Jones; Editing by James Macharia

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