AngloGold Ashanti (AU) has recently reported Q1 2019 results and has hinted it has plans for a complete divestment of the SA (read: South African) operations. This could create short-term concerns for AU (in terms of reduced production potential) but will be crucial for long-term improvement in mining costs. In my view, mining companies' operating margins are mainly based on two metrics, i.e. gold prices and production costs. The first being outside the control of miners; the latter is where companies try to bring improvement. AU’s decision to divest its last SA mine