AngloGold Ashanti to Sell Stake in MSG Gold Mine in Brazil
Mining News | 2025-06-03 14:07:32
MSG, located in the Goias State, produced nearly 80,000 ounces of gold during the previous year.
By Paul Ploumis
SEATTLE (Scrap Monster): AngloGold Ashanti announced its decision to sell its stake in Mineracao Serra Grande (MSG) gold mine in central Brazil to Aura Minerals. It must be noted that Aura Minerals already operates two mines and three development projects in Brazil.
Subject to specific working capital adjustments as of the closing date, Aura Minerals will pay AngloGold Ashanti an upfront cash consideration of US$76 million at closure. The agreement provides for quarterly deferred payments to the corporation equal to 3% of net smelter returns over the course of MSG's current mineral resources and reserves.
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The sale is a component of a larger plan to concentrate on high-return assets in order to streamline operations. According to the company's CEO, Alberto Calderon, the action guarantees that the organization will keep concentrating on capital allocation, operational effectiveness, and portfolio optimization.
In the previous year, MSG, which is situated in Goias State, produced around 80,000 ounces of gold. Three underground mines, an open pit, and a specialized metallurgical plant make up the mine complex.
The third quarter of the year, and at the latest, Q4 2025, is when the deal is anticipated to close.
