AngloGold Ashanti Ltd. (JSE:ANG) is planning sell its Navachab mine at Karibib as a going concern business. Alan Fine, Spokesperson of AngloGold Ashanti said there has already been a consultation process with employees, the Namibian government and the community. Reports of a 'junior miner' possibly buying the mine were not refuted by Alan Fine, neither were they confirmed. "We can't disclose who the parties that have expressed interest and have been shortlisted are, but yes, one would imagine that bidders are likely to be smaller companies. That is obviously not the sole consideration. Considerations are rather based on our assessment of the capacity of interested parties to operate the mine," Alan Fine said.

B2Gold Corp. (TSX:BTO) is still interested to acquire Navachab gold mine in the Erongo Region from AngloGold Ashanti Ltd. (JSE:ANG). B2Gold's Spokesperson, Gretha du Plessis, told New Era on May 15, 2013, "B2Gold has publicly stated their interest in obtaining Navachab since entering Namibia and we continue to evaluate whether or not the project makes sense as part of B2Gold's global strategy." As per AngloGold Ashanti, the Namibian operation will be sold as a going concern to minimise any adverse affects on the Namibian workforce. Alan Fine, Spokesperson for AngloGold Ashanti did nor diclose the price and added that he could not disclose the parties that have submitted bids or that have been short-listed to purchase Navachab.

AngloGold Ashanti Ltd. announced un-audited group earnings and operating results for the first quarter ended March 31, 2013. The company's adjusted headline earnings increased six-fold quarter-on-quarter to $113 million as the costs were better than guidance and the company made steady progress recovering from the strike action in South Africa in the last quarter of 2012; despite 4.8% drop in gold price. Net debt at 31 March 2013 was $2.32 billion, compared with $2.06 billion at the end of the previous quarter. This net debt level is expected to increase over the next two quarters as investments in the new projects peak, whereafter their cash flow contribution is expected to reduce debt levels. Total capital expenditure during the first quarter was $512 million (including equity accounted joint ventures) compared with $844 million the previous quarter and $398 million in the first quarter of last year. The company reported revenue of $1,518 million compared to $1,794 million, operating profit of $264 million compared to $605 million, profit before taxation of $346 million compared to $709 million, profit allocated to equity shareholders of $239 million or 27 cents per diluted share compared to $581 million or 114 cents per diluted share, net cash inflow from operating activities of $346 million compared to $625 million, capital expenditure of $384 million compared to $356 million and expenditure on intangible assets of $13 million compared to $7 million for the last year. Production was 899,000 ounces at a total cash cost of $894/oz, compared to 859,000 ounces at $967/oz the previous quarter. About 20,000oz was lost to a lightning strike which interrupted power to the West Wits operations, while a delay in commissioning of a new mill at Geita also cost some production. For second quarter, the company expects production to be at 900,000 ounces to 950,000 ounces at total cash cost of $900/oz to $950/oz. This takes into account the number of public holidays in South Africa as well as annual power tariff increases and the winter power tariffs charged.