SEATTLE (Scrap Monster): AngloGold Ashanti Limited announced that it has entered into a definitive agreement with Coeur Mining, Inc. to acquire 100% of Coeur’s wholly owned subsidiary, Coeur Sterling, Inc., which hold properties adjacent to its Beatty District, Nevada operations.
Further to the deal, the company will acquire Coeur’s C-Horst, SNA, Secret Pass and Daisy ore bodies, as well as the decommissioned Sterling Mine and all tenements that surround these properties. Upon closing of the transaction, AngloGold Ashanti U.S.A. Holdings Inc. will acquire all shares of Coeur Sterling for $150m in cash. The closing is expected by end of this year.
The acquisition is considered a compelling strategic fit with AngloGold Ashanti’s assets in the Beatty District of Nevada.
Commenting on the important development, Alberto Calderon, CEO, AngloGold Ashanti noted that the acquisition further enhances the value proposition it is currently building in the Beatty district. The addition of the above properties will consolidates our ownership position in one of North America’s most promising new gold districts. Furthermore, he committed to develop these properties to their full potential, so as to maximise the benefits to its shareholders.