AngloGold Ashanti agrees to sell Mineração Serra Grande mine to Aura Minerals for R1. 4bn
AngloGold Ashanti has entered into an agreement to sell its Mineração Serra Grande mine (MSG) in Goiás, Brazil, to Aura Minerals.
AngloGold Ashanti has entered into an agreement to sell its Mineração Serra Grande mine (MSG) in Goiás, Brazil, to Aura Minerals.
The transaction involves the sale of Mineração Serra Grande, which owns MSG, to a Brazilian affiliate of Aura for a cash payment of $76 million (R1.4 billion) at closing, subject to working capital adjustments, and deferred payments equivalent to a 3% net smelter returns royalty on MSG's current Mineral Resource, including Mineral Reserves, paid quarterly in cash.
MSG, one of AngloGold Ashanti's smaller and higher-cost operations, has focused recently on stabilising operations, including the near-complete decommissioning of its legacy tailings storage facility.
'This sale sharpens our focus on capital allocation, operating efficiencies, and portfolio optimization,' said AngloGold Ashanti CEO Alberto Calderon. 'We've ensured MSG and its team join a responsible operator in Aura, benefiting all stakeholders.'
The transaction excludes certain subsidiaries holding non-mining assets, such as properties, which will remain with AngloGold Ashanti through a pre-closing spin-off. The deal is subject to conditions, including Brazilian anti-trust approval, completion of the tailings facility decommissioning, the subsidiaries' transfer, and no material adverse events. Closing is expected in quarter three 2025.
About MSG
Located 5km from Crixás in Goiás, MSG comprises three underground mines, an open pit, and a 1.5 million tonnes annual capacity metallurgical plant. As of December 31, 2024, MSG's Mineral Resources include 1.08 million ounces (Moz) (Measured & Indicated) at 3.14 g/t and 1.41 Moz (Inferred) at 3.39 g/t, with Proven & Probable Reserves of 0.37 Moz at 2.72 g/t. In 2024, MSG produced 80 koz of gold (2023: 86 koz).
About Aura
Aura, incorporated in the British Virgin Islands and listed on the Toronto and Brazil Stock Exchanges, operates five mines across the Americas, including three gold mines in Brazil, a copper-gold-silver mine in Mexico, and a gold mine in Honduras, alongside development projects in Brazil and Guatemala.
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