Wrap Text
AngloGold Ashanti Agrees the Sale of the Mineração Serra Grande Mine
AngloGold Ashanti plc
(Incorporated in England and Wales)
Registration No. 14654651
LEI No.
2138005YDSA7A82RNU96
ISIN: GB00BRXH2664
CUSIP: G0378L100
NYSE Share code: AU
JSE Share code: ANG
NEWS RELEASE
AngloGold Ashanti Agrees the Sale of the Mineração Serra Grande Mine
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").
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:
- 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.
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.
"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."
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").
The Disposal is subject to the fulfilment of the following conditions:
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.
It is expected that all the conditions will be fulfilled, and the Sale is expected to close during Q3
2025.
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.
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).
ABOUT AURA
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.
ENDS
London, Denver, Johannesburg
2 June 2025
JSE Sponsor: The Standard Bank of South Africa Limited
CONTACTS
Media
Andrea Maxey +61 08 9425 4603 / +61 400 072 199 amaxey@aga.gold
General inquiries media@anglogoldashanti.com
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.
Date: 02-06-2025 01:21:00
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