Latest news with #Iduapriem
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
Yahoo
07-05-2025
- Business
- Yahoo
AngloGold Ashanti, Gold Fields pause JV discussions for Ghanian operations
AngloGold Ashanti and Gold Fields have decided to temporarily halt discussions regarding a potential joint venture (JV) that would combine their Iduapriem and Tarkwa gold mines in Ghana. The move will allow both companies to concentrate on enhancing their respective mines' stand-alone performances. Since proposing to combine the neighbouring mines in March 2023, AngloGold Ashanti has discovered opportunities within its Iduapriem mine plan that could unlock significant value. Halting the JV talks will provide the opportunity to focus on these improvements, enabling AngloGold Ashanti to refine its long-term mining plan, which is currently considered the most valuable option. Iduapriem, an open-pit mine in the western region of Ghana, has been under AngloGold Ashanti's ownership since 2002. Located approximately 70km north of Takoradi and 10km south-west of the Tarkwa mine, Iduapriem produced 237,000oz of gold in 2024 at a total cash cost of $1,118/oz. In related news, Kincora Copper has revised its earn-in and JV agreement with AngloGold Ashanti Australia, a subsidiary of AngloGold Ashanti. This amendment will facilitate up to A$100m ($64.7m) in total expenditure for a second JV in Australia's Northern Junee-Narromine Belt, known for its potential to host significant porphyry deposits. The agreement includes the Nyngan South, Nevertire South and Mulla projects. Additionally, Gold Road Resources recently announced an agreement to sell all of its issued and outstanding shares to Gruyere Holdings, a fully owned subsidiary of Gold Fields, for A$3.7bn. Under the terms of the deal, shareholders will receive A$3.40 per share in cash, which places Gold Road's enterprise value at roughly A$2.6bn. This acquisition will give Gold Fields full ownership of the Gruyere mine in Western Australia, where it currently holds a 50% interest through a JV. "AngloGold Ashanti, Gold Fields pause JV discussions for Ghanian operations" was originally created and published by Mining Technology, a GlobalData owned brand.
Yahoo
06-05-2025
- Business
- Yahoo
AngloGold Ashanti and Gold Fields Agree to Pause Proposed Ghana JV Discussions
LONDON & DENVER & JOHANNESBURG, May 06, 2025--(BUSINESS WIRE)--AngloGold Ashanti plc ("AngloGold Ashanti" or the "Company") and Gold Fields have agreed to pause discussions about a proposed joint venture to combine their Iduapriem and Tarkwa gold mines in Ghana. The companies proposed the combination of the neighbouring mines in March 2023 and have spent much of the intervening time in a constructive dialogue with the Government of Ghana to obtain the necessary approvals. Over that time, AngloGold Ashanti has identified changes in its standalone mine plan for Iduapriem which have the potential to unlock significant additional value. 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, while also allowing AngloGold Ashanti to consolidate the improvements to its long-term mining plan, which currently shows the highest value of its options. ABOUT IDUAPRIEM Iduapriem is located in the western region of Ghana, approximately 70km north of the coastal city of Takoradi and about 10km south-west of Gold Fields' Tarkwa mine. The open pit mine began gold production in September 1992 and was acquired by AngloGold Ashanti in 2002 when it merged with Ashanti Goldfields. In 2024 Iduapriem produced 237,000 ounces of gold at a total cash cost of $1,118/oz. Forward-looking statements 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. View source version on Contacts Media Andrea Maxey+61 08 9425 4603 / +61 400 072 199amaxey@ General inquiriesmedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
06-05-2025
- Business
- National Post
AngloGold Ashanti and Gold Fields Agree to Pause Proposed Ghana JV Discussions
Article content LONDON & DENVER & JOHANNESBURG — AngloGold Ashanti plc ('AngloGold Ashanti' or the 'Company') and Gold Fields have agreed to pause discussions about a proposed joint venture to combine their Iduapriem and Tarkwa gold mines in Ghana. Article content Article content The companies proposed the combination of the neighbouring mines in March 2023 and have spent much of the intervening time in a constructive dialogue with the Government of Ghana to obtain the necessary approvals. Article content Over that time, AngloGold Ashanti has identified changes in its standalone mine plan for Iduapriem which have the potential to unlock significant additional value. Article content 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, while also allowing AngloGold Ashanti to consolidate the improvements to its long-term mining plan, which currently shows the highest value of its options. Article content ABOUT IDUAPRIEM Article content Iduapriem is located in the western region of Ghana, approximately 70km north of the coastal city of Takoradi and about 10km south-west of Gold Fields' Tarkwa mine. Article content The open pit mine began gold production in September 1992 and was acquired by AngloGold Ashanti in 2002 when it merged with Ashanti Goldfields. Article content In 2024 Iduapriem produced 237,000 ounces of gold at a total cash cost of $1,118/oz. 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 Media Article content Article content Article content
Business Wire
06-05-2025
- Business
- Business Wire
AngloGold Ashanti and Gold Fields Agree to Pause Proposed Ghana JV Discussions
LONDON & DENVER & JOHANNESBURG--(BUSINESS WIRE)--AngloGold Ashanti plc ('AngloGold Ashanti' or the 'Company') and Gold Fields have agreed to pause discussions about a proposed joint venture to combine their Iduapriem and Tarkwa gold mines in Ghana. The companies proposed the combination of the neighbouring mines in March 2023 and have spent much of the intervening time in a constructive dialogue with the Government of Ghana to obtain the necessary approvals. Over that time, AngloGold Ashanti has identified changes in its standalone mine plan for Iduapriem which have the potential to unlock significant additional value. 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, while also allowing AngloGold Ashanti to consolidate the improvements to its long-term mining plan, which currently shows the highest value of its options. ABOUT IDUAPRIEM Iduapriem is located in the western region of Ghana, approximately 70km north of the coastal city of Takoradi and about 10km south-west of Gold Fields' Tarkwa mine. The open pit mine began gold production in September 1992 and was acquired by AngloGold Ashanti in 2002 when it merged with Ashanti Goldfields. In 2024 Iduapriem produced 237,000 ounces of gold at a total cash cost of $1,118/oz. Forward-looking statements 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.
