Latest news with #AngloGold
West Australian
2 days ago
- Business
- West Australian
World Gold Council's latest short film shines spotlight on WA Goldfields
The World Gold Council's latest short film to premiere on Thursday focuses on activities in WA's Goldfields, with particular emphasis on an Indigenous company's partnership with a global mining giant. Gold: The Journey Continues — Australia demonstrates how the local gold industry, First Nations communities and businesses were collaborating to deepen Indigenous participation in WA's gold mining sector. The film is the third in a global series from the council that tell 'real stories of those who live and work in responsible gold mining operations', and follows the global success of Gold: A Journey, in 2023, starring British film star Idris Elba. Representatives from the World Gold Council, Minerals Council of Australia, and Gold Industry Group visited Kalgoorlie-Boulder on Wednesday ahead of the film's premiere at WA Museum Boola Bardip in Perth on Thursday night. The three groups are presenting the film in partnership. The gold council's chief strategy officer Terry Heymann said the film series aimed to highlight the social and community value being generated through 'responsible' gold mining, a sector more known for its economic contribution. 'Given Australia is the world's third-largest gold producer and home to what is widely regarded as the oldest Indigenous culture, we've long wanted to explore the wisdom, experiences and learnings embedded in Australia's gold mining sector,' he said. 'A sustainable gold mining industry is contingent on championing ways for Indigenous people to preserve their deep connections to land and nature while benefit as active participants. 'Exploring partnerships that are achieving this through courage, trust, patience and resilience to overcome what can be exciting but complex challenges has been an immensely insightful and rewarding experience.' Central to the film is mining services company Carey Group, which employs First Nations people and is anchored by its 30-year partnership with global gold mining group AngloGold Ashanti at the Sunrise Dam mine in the northern Goldfields. Carey Group founder and managing director Daniel Tucker has played a key role forging new pathways for Indigenous people, fusing traditional knowledge with a business mindset and skills. Rowena Leslie, co-founder of mining services firm Kai Rho Contracting, who is also featured in the film, was mentored by Mr Tucker. Similarly, Gohar Rind, owner of technology firm Yira Yarkiny Group, benefited from a Carey Group scholarship. AngloGold's contractual arrangements have been augmented with business coaching and mentoring. AngloGold vice-president investor relations, communication and ESG Andrea Maxey said the company was focused on supporting local economics and communities. 'Our purchasing and supply chain team works closely with our community team to ensure mechanisms that build trust (and) cultural awareness, (with) hands-on support built into contracts,' she said. Mr Tucker said Aboriginal-owned business participation in mining was evolving, with Carey Group starting 30 years ago with a blank canvas but a strong vision to work and thrive in industries 'that had long left us out'. 'Our breakthrough came in 1996 when AngloGold Ashanti — then Acacia Resources — saw more opportunity than risk in creating Australia's first Indigenous partnership with Carey Group,' he said. 'Fast forward to today, and our journey is inspiring First Nations people across Australia and in regions as far afield as Canada to consider similar models. 'We are proud and grateful to share our story in this documentary.' Mr Tucker said the role of Indigenous businesses in mining was still in its infancy. 'There is still so much opportunity for First Nations-owned businesses to grow, diversify and achieve major milestones into the future,' he said.
Hamilton Spectator
4 days ago
- Business
- Hamilton Spectator
Aura Minerals Agrees to Acquire the Mineração Serra Grande Gold Mine in Goiás, Brazil
ROAD TOWN, British Virgin Islands, June 02, 2025 (GLOBE NEWSWIRE) — Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) ('Aura' or the 'Company') is pleased to announce that Aura, AngloGold Ashanti plc ('AngloGold') and a wholly owned subsidiary of Aura have entered into a Share Purchase Agreement (the 'SPA') pursuant to which Aura's wholly owned subsidiary will acquire from AngloGold all of the issued and outstanding securities of Mineração Serra Grande S.A. ('MSG'), owner of the Mineração Serra Grande gold mine located in Crixás, in the state of Goiás, Brazil (the 'Transaction'). Transaction Highlights: The closing of the Transaction is expected to happen by Q3 2025, and no later than Q4 2025. Rodrigo Barbosa, President and CEO of Aura, stated: 'AngloGold has built a strong reputation for developing and operating world-class mines. Serra Grande, located in one of Brazil's most prominent greenstone belts, has, according to AngloGold, produced over 3 million Oz since 1998 with a peak production of 193,000 Oz in 2006, underscoring its significant potential. As a nimble company with a proven turnaround track record (e.g., Apoena and Aranzazu) and a team with significant previous knowledge of Serra Grande, Aura is well positioned to unlock the mine's potential. Through our disciplined capital allocation, Aura 360 culture, and a targeted exploration program, we believe we can significantly enhance performance, boost production, reduce costs, and extend the Life of Mine at Serra Grande, which could result in Serra Grande becoming a cornerstone of our portfolio.' ABOUT MSG MSG is located in the northwest of the state of Goiás, central Brazil about 5km from the city of Crixás. The MSG operation comprises three mechanised underground mines and an open pit, with one dedicated metallurgical plant with an annual capacity of 1.5 Mt. AngloGold's existing Mineral Resource and Mineral Reserve Report dated as of December 31, 2024, filed on AngloGold's website, disclosed total Measured and Indicated Resource of 10.75 Mt gold, at an average grade of 3.14 g/t gold for 1.08 Moz of gold, along with Inferred Mineral Resource of 12.95 Mt gold at an average grade of 3.39 g/t for 1.4 Moz of gold. Aura considers the reported mineral resources as 'historical estimates' and does not treat such mineral resources as current. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources under 43-101 – Standard of Disclosure for Mineral Projects ('NI 43-101') or comment on the reliability of the historic resources or what work needs to be done to upgrade or verify the historical estimates as current. In addition, Aura cannot confirm if such classifications are compatible with, or directly comparable to, the requirements of NI 43-101. According to AngloGold, in 2024, MSG produced 80 kOz of gold (2023: 86 kOz). Advisers and Counsel BofA Securities is acting as exclusive financial adviser to Aura, and Demarest Advogados is acting as Brazilian law adviser and Gowling WLG (UK) LLP is acting as English law adviser to Aura. Qualified Person The scientific and technical information contained within this news release has been reviewed and approved by Farshid Ghazanfari, a qualified person as defined in NI 43-101. About Aura 360° Mining Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining. Aura is a company focused on the development and operation of gold and base metal projects in the Americas. The company's five operating assets include the Minosa gold mine in Honduras; the Almas, Apoena, and Borborema gold mines in Brazil; and the Aranzazu copper, gold, and silver mine in Mexico. Additionally, the company owns Era Dorada, a gold project in Guatemala; Tolda Fria, a gold project in Colombia; and three projects in Brazil: Matupá, which is under development; São Francisco, which is in care and maintenance; and the Carajás copper project in the Carajás region, in the exploration phase. Forward-Looking Information This press release contains 'forward-looking information' and 'forward-looking statements', as defined in applicable securities laws (collectively, 'forward-looking statements') which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as 'plans,' 'expects,' 'is expected,' 'budget,' 'scheduled,' 'estimates,' 'forecasts,' 'intends,' 'anticipates,' or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements and all forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in the press release include, but are not limited to, statements relating to: the completion of the Transaction; timing for the completion of the Transaction; consideration payable under the Transaction; entry into the net smelter returns deferred consideration agreement; completion of the MSG Subsidiaries Transfer; fulfillment of the conditions precedent to the Transaction; enhancing performance, boosting production, reducing costs, and extending the Life of Mine at Serra Grande and the potential for Serra Grande to become a cornerstone of Aura's portfolio. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
Egypt Today
17-05-2025
- Business
- Egypt Today
PM describes Sukari mine as city-scale project
Sukari mine - file CAIRO - 17 May 2025: Egyptian Prime Minister Mostafa Madbouli described the Sukari gold mine near Marsa Alam as a massive project comparable to a small city investment, with 4,000 jobs tied to the site. During a visit to the site on Saturday, Madbouli said that Egypt continues to secure its full rights under existing agreements, even after AngloGold Ashanti acquired the mine's foreign partner. He added that the mine ranks among the top 25 globally, with expected output over the next eight years projected to surpass the past 15 years. AngloGold, now managing the site, is expanding exploration in nearby areas. Investment in the mine has exceeded $2 billion, with major equipment alone valued at $235 million. The Premier added that Egypt's Mineral Resources Authority will soon shift to economic management to improve gold exploration and maximize returns from the sector. During a separate visit to Fustat Hills Park in Cairo, the Prime Minister said that the 500-acre space is nearly complete and will open within weeks. The project replaced unsafe and neglected land with a large public park that includes green areas, commercial outlets, and public facilities. It is the largest park of its kind in the capital and part of broader urban redevelopment efforts across Greater Cairo.
Reuters
06-05-2025
- Business
- Reuters
AngloGold Ashanti, Gold Fields halt Ghana JV talks
May 6 (Reuters) - AngloGold Ashanti (AU.N), opens new tab, and Gold Fields (GFIJ.J), opens new tab have agreed to pause talks to merge their neighbouring Tarkwa and Iduapriem mines in Ghana, the companies said on Tuesday, two years after announcing the plan. The plan to combine the two mines, which would have created Africa's biggest gold mine, had not been advanced, with the Ghanaian government still to make a decision on whether to grant regulatory approval. "The companies have decided to pause discussions around the joint venture to allow them to focus on improving the current, standalone performance at their respective sites," AngloGold said in a statement. Gold Fields said in a separate statement that while a combination of the two mines remained "compelling", the two miners would continue focusing on their respective operations "on a standalone basis". Under the joint venture plan, Gold Fields and AngloGold would have owned 60% and 30% of the merged operation, respectively, with the government holding 10%. The joint operation had been forecast to produce an average 900,000 ounces annually over the first five years and 600,000 ounces a year over the estimated 18-year life of the mine.
Yahoo
02-05-2025
- Business
- Yahoo
AngloGold Ashanti (NYSE:AU) Sells Cote d'Ivoire Gold Projects For US$260 Million
AngloGold Ashanti recently agreed to sell its interests in two gold projects in Côte d'Ivoire, marking a shift in its operational strategy. This decision aligns with the company's focus on enhancing its operational assets in the U.S. and developing projects like the Mansala Project in Guinea. Over the last quarter, AngloGold's share price rose 31%, a strong performance that mirrors broader market trends, with the S&P 500 experiencing a winning streak. While the company's strategic moves might have reinforced its price gain, the broader positive market sentiment likely played a significant role. We've discovered 2 warning signs for AngloGold Ashanti that you should be aware of before investing here. Find companies with promising cash flow potential yet trading below their fair value. The recently announced sale of interest in two gold projects in Côte d'Ivoire by AngloGold Ashanti suggests a focus on concentrating efforts in key regions such as the U.S. and Guinea. This strategic pivot is expected to align the company with high-value peers and potentially improve capital access. In terms of revenue and earnings, such moves might boost operational efficiency and production output, contributing to enhanced profit margins. The integration of Centamin is anticipated to unlock operational synergies, which could further support revenue and earnings growth projections. Over the past three years, AngloGold Ashanti's total shareholder return, including dividends, has reached 112.32%. This marks a significant growth period, with the company's shares showing strong performance compared to the broader U.S. market's one-year return of 9.5%. This trajectory indicates an overall robust performance in the longer term, bolstered by strategic repositioning and operational improvements. As of today, AngloGold's current share price of US$40.68 is close to the consensus analyst price target of US$43.00, indicating a 5.4% potential upside. This proximity suggests that analysts see limited immediate underpricing of the stock based on current valuations. However, the company's future earnings and revenue growth expectations, assuming successful execution of its expansion projects, might justify a reassessment of the fair value in the coming years. Explore historical data to track AngloGold Ashanti's performance over time in our past results report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:AU. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
