Latest news with #AngloGoldAshanti
Yahoo
2 days ago
- Business
- Yahoo
AngloGold Ashanti Inks Deal to Sell MSG Mine, Stock Hits 52-Week High
Shares of AngloGold Ashanti plc AU scaled a new 52-week high of $47.77 on Monday as the company announced that it inked a deal to sell its interest in Mineração Serra Grande mine ('MSG') to Aura Minerals Inc. This sale will help AngloGold Ashanti optimize its portfolio. AngloGold Ashanti will sell Mineração Serra Grande S.A., the owner of the MSG mine, to Aura for a cash consideration of $76 million . This is subject to working capital adjustments as of the closing date. AngloGold Ashanti will also receive deferred consideration payments equivalent to a 3% net smelter returns royalty on MSG mine's current mineral resource, including the mineral will make these payments quarterly in cash. Located in the northwest of the state of Goiás, the MSG mine operation includes three mechanized underground mines and an open pit. The mine also has one dedicated metallurgical plant with an annual capacity of 1.5 Mt. Recent priorities at the MSG mine include stabilizing operations and completing the decommissioning of the legacy tailings storage facility, which is almost MSG mine produced gold of 80 thousand ounces in 2024 and 86 thousand ounces in the mine remains one of AngloGold Ashanti's higher-cost and lower-production operations. The mine sale will enable AU to enhance its capital allocation focus and drive operating transaction excludes subsidiaries of Mineração Serra Grande S.A. that hold non-core assets, including properties. These assets will be retained by AngloGold Ashanti and transferred out of Mineração Serra Grande S.A. through a spin-off before deal is expected to close in the third quarter of 2025, subject to closing conditions. Shares of the company have skyrocketed 100.6% in the past year compared with the industry's 42.9% growth. Image Source: Zacks Investment Research AU currently sports a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, Royal Gold, Inc. RGLD and SSR Mining Inc. SSRM. Carpenter Technology and Royal Gold currently sport a Zacks Rank #1, whereas SSR Mining carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS' 2025 earnings is pegged at $7.20 per share, which indicates year-over-year growth of 51.9%. Carpenter Technology shares have skyrocketed 111% in the last Gold has an average trailing four-quarter earnings surprise of 9.1%. The Zacks Consensus Estimate for Royal Gold's 2025 earnings is pegged at $7.11 per share, indicating year-over-year growth of 35.1%. RGLD shares have jumped 40.2% in the last Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM's 2025 earnings is pegged at $1.14 per share, implying year-over-year growth of 307%. SSR Mining's stock has surged 88.6% in the last year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngloGold Ashanti PLC (AU) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
AngloGold Ashanti to sell Brazilian Serra Grande mine for $76m plus royalties
AngloGold Ashanti has reached an agreement to sell its stake in the Mineração Serra Grande mine in Goiás, Brazil, to Aura Minerals. The $76m (R1.36bn) cash deal includes additional deferred consideration payments tied to a 3% net smelter return on the mine's mineral resources. The transaction is expected to close in the third quarter of 2025 (Q3 2025), subject to regulatory approvals and the completion of certain pre-closing obligations. The Mineração Serra Grande mine, located near the city of Crixás, operates three mechanised underground mines and an open pit. Its metallurgical plant has an annual capacity of 1.5 million tonnes (mt). Despite recent efforts to stabilise operations, including the near-completion of decommissioning at its legacy tailings storage facility, the mine remains one of AngloGold Ashanti's higher-cost and smallest operations in terms of production. As part of the sale, certain subsidiaries holding non-operational assets will be spun off and retained by AngloGold Ashanti. These subsidiaries currently fall under Mineração Serra Grande operations but will be transferred out prior to the sale's completion. The deal is contingent on several conditions including antitrust approval from Brazilian authorities, the completion of the tailings storage facility decommissioning and the transfer of the aforementioned subsidiaries. AngloGold Ashanti CEO Alberto Calderon said: 'This sale ensures we further sharpen our focus on capital allocation, operating efficiencies and the optimisation of our portfolio. 'We have also worked hard to ensure that MSG and its excellent team joins an established company which will continue to be responsible stewards of this asset for the benefit of all stakeholders.' In related news, AngloGold Ashanti and Gold Fields have paused discussions on a potential joint venture (JV) that would have seen the operators combine their Iduapriem and Tarkwa mines in Ghana. This decision allows both companies to focus on improving the stand-alone performances of their respective mines. Since the JV proposition in March 2023, AngloGold Ashanti has identified valuable opportunities within its Iduapriem mine plan. "AngloGold Ashanti to sell Brazilian Serra Grande mine for $76m plus royalties" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
IOL News
3 days ago
- Business
- IOL News
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. BUSINESS REPORT
National Post
3 days ago
- Business
- National Post
AngloGold Ashanti Agrees to the Sale of the Mineração Serra Grande Mine
Article content LONDON & DENVER & JOHANNESBURG — AngloGold Ashanti plc ('AngloGold Ashanti', 'AGA' or the 'Company') has agreed to sell its interest in Mineração Serra Grande mine ('MSG') located in the state of Goiás, Brazil, to Aura Minerals Inc. ('Aura'). Article content Article content The Company will sell Mineração Serra Grande S.A. ('Sale'), which owns MSG to a Brazilian incorporated affiliate of Aura ('Purchaser') for the following consideration: Article content A cash consideration of $76 million on closing subject to certain working capital adjustments as at the closing date; and Deferred Consideration Payments equivalent to a 3% net smelter returns participation over the current Mineral Resource of MSG inclusive of the Mineral Reserve – these Deferred Consideration Payments will be paid quarterly in cash. Article content The recent focus at MSG has been on stabilizing the operations including the decommissioning of the legacy tailings storage facility ('TSF Decharacterization') which is nearing completion. However, MSG remains one of AGA's higher cost and its smallest operation by production. Article content 'This sale ensures we further sharpen our focus on capital allocation, operating efficiencies and the optimization of our portfolio,' said AngloGold Ashanti CEO Alberto Calderon. 'We've also worked hard to ensure that MSG and its excellent team joins an established company which will continue to be responsible stewards of this asset for the benefit of all stakeholders.' Article content The Sale excludes certain subsidiaries of Mineração Serra Grande S.A which hold assets that do not form part of MSG's mining operations and include properties. These will remain in the AGA group and will be transferred from under Mineração Serra Grande S.A. by means of a spin-off prior to closing ('MSG Subsidiaries Transfer'). Article content The Disposal is subject to the fulfilment of the following conditions: Article content i. Anti-trust approval from the Brazilian authorities (CADE); ii. The completion of the TSF Decharacterization work; iii. The completion of the MSG Subsidiaries Transfer; and iv. No Material Adverse Event occurring prior to closing. Article content It is expected that all the conditions will be fulfilled, and the Sale is expected to close during Q3 2025. Article content ABOUT MSG Article content 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. Article content As at 31 December 2024, MSG has an exclusive Measured & Indicated Mineral Resource of 1.08 Moz at an average grade of 3.14 g/t, an exclusive Inferred Mineral Resource of 1.41 Moz at an average grade of 3.39 g/t and Proven & Probable Mineral Reserve of 0.37 Moz at an average grade of 2.72 g/t. In 2024, MSG produced 80 koz of gold (2023: 86 koz). Article content ABOUT AURA Article content Aura is incorporated in the British Virgin Islands and is listed on the Toronto Stock Exchange and the Brazil Stock Exchange (B3). Aura is a high growth mid-tier gold and copper producer operating five mines across the Americas: a copper-gold-silver mine in Mexico, three gold mines in Brazil, and a gold mine in Honduras. In addition, Aura holds two development projects in Brazil and recently acquired a gold development asset in Guatemala. Article content Forward-looking statements Article content Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as 'believe', 'expect', 'aim', 'anticipate', 'intend', 'foresee', 'forecast', 'predict', 'project', 'estimate', 'likely', 'may', 'might', 'could', 'should', 'would', 'seek', 'plan', 'scheduled', 'possible', 'continue', 'potential', 'outlook', 'target' or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. Article content Article content Article content Article content Article content
National Post
28-05-2025
- Business
- National Post
Results of the Company's Annual General Meeting 2025
This advertisement has not loaded yet, but your article continues below. LONDON & DENVER & JOHANNESBURG — Following the Annual General Meeting ('AGM') held at 9:00am (Mountain Daylight Time) on Tuesday 27 May 2025, AngloGold Ashanti plc (the 'Company' or 'AngloGold Ashanti') announces the results of the poll vote for each resolution set out in the notice of AGM published on 7 April 2025 (the 'Notice of AGM'). The full text of the resolutions proposed at the AGM is included in the Notice of AGM. THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. 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Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors All of the resolutions were passed as ordinary resolutions. A copy of the poll results for the AGM, along with the Notice of AGM, is available on the AngloGold Ashanti website at Resolution Votes For1 % Votes Against % Votes Withheld/ Abstentions2 Broker Non-Votes 1. To receive the 2024 Annual Report and Accounts 388,317,432 99.98 80,648 0.02 255,571 0 2. To approve the Directors' Remuneration Report 355,110,031 91.39 33,437,495 8.61 106,125 0 3. To elect Mr. Bruce Cleaver as a director 388,268,247 99.94 235,208 0.06 150,196 0 4. To elect Ms. Nicky Newton-King as a director 388,090,981 99.89 408,069 0.11 154,601 0 5. To re-elect Dr. Kojo Busia as a director 388,234,636 99.93 256,401 0.07 162,614 0 6. To re-elect Mr. Alberto Calderon as a director 388,427,842 99.98 77,945 0.02 147,864 0 7. To re-elect Ms. Gillian Doran as a director 358,833,245 92.36 29,676,623 7.64 143,783 0 8. To re-elect Mr. Alan Ferguson as a director 388,097,054 99.90 407,518 0.10 149,079 0 9. To re-elect Mr. Albert Garner as a director 318,651,096 82.02 69,851,494 17.98 151,061 0 10. To re-elect Ms. Jinhee Magie as a director 388,434,916 99.98 74,636 0.02 144,099 0 11. To re-elect Ms. Diana Sands as a director 388,238,666 99.93 269,238 0.07 145,747 0 12. To re-elect Mr. Jochen Tilk as a director 387,430,478 99.73 1,057,229 0.27 165,944 0 13. To re-appoint PricewaterhouseCoopers LLP as statutory auditors of the Company 388,460,144 99.98 60,728 0.02 132,779 0 14. To authorise the Audit and Risk Committee of the Company to determine the remuneration of the Company's statutory auditors 388,412,689 99.96 172,678 0.04 68,284 0 15. To ratify the appointment of PricewaterhouseCoopers Inc. as independent registered public accountants of the Company 388,467,934 99.97 127,236 0.03 58,481 0 16. To authorise the Company to make political donations up to an aggregate limit of £100,000 262,796,980 67.63 125,761,730 32.37 94,941 0 1. Votes 'for' include those votes giving the Chair discretion. 2. For all relevant purposes votes which are 'withheld' or 'abstained' are not votes in law and are not counted in the calculation of the proportion of votes for and against each resolution. On 4 April 2025, the record date as set out in the Notice of AGM, there were 504,087,287 ordinary shares in issue. Shareholders are entitled to one vote per share on a poll. Further to the announcement made on 20 December 2024, the Company confirms that Rhidwaan Gasant has stepped down from the Board on 27 May 2025. Other than fees accrued up to the date he ceased to be a director, no other remuneration payment will be made by the Company to Rhidwaan Gasant after he ceases to be a non-executive director, nor will any payment for loss of office be made. The previously announced appointment of Alan Ferguson as Lead Independent Director and Diana Sands as Chair of the Audit and Risk Committee also took effect on 27 May 2025. JSE Sponsor: The Standard Bank of South Africa Limited Media Andrea Maxey +61 8 9425 4603 / +61 400 072 199 amaxey@ Investors Yatish Chowthee +27 11 637 6273 / +27 78 364 2080 yrchowthee@ Andrea Maxey +61 8 9425 4603 / +61 400 072 199 amaxey@ This advertisement has not loaded yet.
