As part of the sale, certain subsidiaries holding non-operational assets will be spun off and retained by AngloGold Ashanti.
The Mineração Serra Grande mine comprises three mechanized underground mines and an open-pit operation, supported by a metallurgical plant with an annual capacity of 1.5 million tonnes. Despite recent efforts to stabilize operations, including nearly completing the decommissioning of its legacy tailings storage facility, the mine remains one of AngloGold Ashanti’s smaller and higher-cost assets.
As part of the agreement, AngloGold Ashanti will retain certain subsidiaries holding non-operational assets currently under the Mineração Serra Grande operations. These will be separated and transferred prior to the sale’s completion. The deal’s closure depends on conditions such as antitrust approval from Brazilian authorities and the finalization of the tailings facility decommissioning.
Alberto Calderon, CEO of AngloGold Ashanti, stated: “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.”
Separately, AngloGold Ashanti and Gold Fields have paused discussions on a proposed joint venture to combine their Iduapriem and Tarkwa mines in Ghana. Announced in March 2023, the potential partnership has been set aside to allow both companies to prioritize improving the individual performance of their respective mines. AngloGold Ashanti has since identified promising opportunities within its Iduapriem mine plan, focusing on operational enhancements.
This transaction and strategic shift reflect AngloGold Ashanti’s commitment to optimizing its portfolio and improving operational efficiency while ensuring responsible asset management for stakeholders.
