World's biggest gold group formed by SA pooling of assets

Shareholders in eight big South African gold companies yesterday agreed to pool their assets to create Anglogold Ltd, the world's largest gold producer.

Investors in the separately-listed companies voted by margins of over 90 per cent in favour of joining the new gold behemoth. South Africa's gold industry has undergone a major overhaul as companies struggle to compete against leaner North American and Australian rivals in the face of slumping gold prices amid central bank sales and weakening Asian demand.