AngloGold Ashanti Sells Brazilian Mine for $76 Million to Aura Minerals

AngloGold Ashanti (NYSE:AU) is one of the best-performing NYSE stocks to buy now. Earlier on June 3, 2025, AngloGold Ashanti reached an agreement to sell its interest in the Mineração Serra Grande mine in Goiás (Brazil) to Aura Minerals. The deal is valued at $76 million in cash, with additional deferred consideration payments consisting of a 3% net smelter return on the mine’s mineral resources.

The transaction is expected to finalize in Q3 2025, pending regulatory approvals from Brazilian authorities, the completion of certain pre-closing obligations, and no material adverse events. The Mineração Serra Grande mine is located near the city of Crixás and is a gold mine that has been in operation since 1987. It comprises 3 mechanized underground mines and an open pit, supported by a metallurgical plant with an annual capacity of 1.5 million tonnes.

AngloGold Ashanti Sells Brazilian Mine for $76 Million to Aura Minerals

A group of miners in hard hats and safety gear descending into a deep coal mine.

Despite recent efforts to stabilize 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. In 2024, Mineração Serra Grande produced 80,000 ounces of gold, a slight decrease from 86,000 ounces in 2023. As part of the sale agreement, certain subsidiaries currently under the Mineração Serra Grande operations that hold non-operational assets will be spun off and retained by AngloGold Ashanti.

AngloGold Ashanti (NYSE:AU) is a gold mining company in Africa, Australia, and the Americas. It primarily explores for gold, as well as by-products, such as silver and sulphuric acid.

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Disclosure: None. This article is originally published at Insider Monkey.