Jaguar Mining Denied Media Reports on Buyout of Brazilian Gold Mine

SEATTLE (Scrap Monster): Canadian junior gold miner, Jaguar Mining denied media reports that it has expressed interest to purchase AngloGold Ashanti’s Corrego do Sitio gold complex in Brazil.

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It must be noted that media reports had cited Jaguar Mining as the most likely buyer of the gold complex which comprises of one open pit mine and one underground mine, which is being operated by AGA Mineracao, AngloGold’s subsidiary. Incidentally, Jaguar Mining operates two mines in the vicinity of the gold complex.

Jaguar Mining denied reports that negotiations with AngloGold Ashanti were in progress with regards to acquisition of the gold complex located in the southern Brazilian state of Minas Gerais. However, it refused to comment on whether it is interested in adding Corrego do Sitio gold complex to its Brazilian portfolio of operations.

Last week, a spokesperson for AngloGold Ashanti had confirmed that the company is exploring strategic alternatives for the Corrego do Sitio gold complex, including a potential sale of operation.

In addition to Corrego do Sitio gold complex, AngloGold operates Cuiaba complex, which consists of two underground mines and plants. The two mining complexes together produce nearly 510,000 ounces of gold, which accounts for approximately 15% of the company’s total global output.