In case the MarketWatch link does not work, here is what it says:
"""NEW YORK (MarketWatch) -- Mining giant Anglo American has sold its remaining 11.3% stake in South African gold miner AngloGold Ashanti to investment funds managed by John Paulson's firm for $1.28 billion. London-based Anglo American, one of the world's largest diversified mining groups, said late Tuesday that it has sold the stake to Paulson & Co. for $32 a share in cash, generating proceeds of $1.28 billion. "The proceeds will be used for general corporate purposes," Anglo American said in a statement. "Consistent with Anglo American's stated intention to dispose of this non-core holding, Anglo American no longer owns any shares in AngloGold Ashanti." Anglo American's shareholding in AngloGold Ashanti was 16.2% as of Dec. 31 last year. Since then, Anglo American has sold that entire stake for a total of $1.77 billion.
"As the world deals with the global economic crisis the value of gold, as the only true 'hard currency,' is coming to the fore as evidenced by the investment choices of some of the world's most seasoned investors."
— Mark Cutifani, CEO of AngloGold Ashanti
"We believe AngloGold Ashanti is one of the best managed and most undervalued of the major global gold mining companies," Paulson & Co. said in an emailed statement. "We look forward to the implementation of their global expansion strategy." Hedge fund manager John Paulson, who is president of Paulson & Co., became known for profiting handsomely from bets against subprime mortgages. Based in Johannesburg, South Africa, AngloGold Ashanti produced 5.5 million ounces of gold in 2007, or an estimated 7% of global production, making it the third largest producer in the world, according to its Web site. 'Only true hard currency' AngloGold Ashanti Chief Executive Officer Mark Cutifani welcomed Paulson & Co. as one his company's largest shareholders. "As the world deals with the global economic crisis, the value of gold, as the only true 'hard currency,' is coming to the fore, as evidenced by the investment choices of some of the world's most seasoned investors," Cutifani said in an emailed statement. Gold is typically seen as a safe-haven investment and demand for it tends to rise at times of financial and economic crisis. Gold futures rallied 6% to $942 an ounce in electronic trading on Wednesday, as the dollar tumbled after the Federal Reserve surprised investors and said it will buy long-term Treasurys. Gold has surged 10% over the last three months. See Metals Stocks. "We're extremely pleased that someone with John Paulson's track record and reputation has chosen AngloGold Ashanti as one of his investments through which to increase his exposure to the gold market," Cutifani said. "The Anglo American share overhang, with its depressing effect on our share price, has now gone." """