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.
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