Aura Minerals completes Mineração Serra Grande gold mine acquisition

Aura Minerals has completed the acquisition of the Mineração Serra Grande (MSG) golden excavation successful Crixás, Goiás, Brazil, from AngloGold Ashanti.

The transaction was finalised done Aura’s wholly owned subsidiary.

Aura paid AngloGold Ashanti an upfront currency information of $72.8m astatine closing, based connected an agreed endeavor worth of $76m, adjusted for customary items arsenic outlined successful the stock acquisition agreement.

In addition, Aura volition marque deferred information payments equivalent to a 3% nett smelter returns information implicit the mineral assets of MSG, including the mineral reserve, payable quarterly.

Since 1998, the MSG golden excavation has produced much than 3 cardinal ounces of gold, with a highest yearly accumulation of 193,000oz successful 2006.

In 2024, the excavation produced 80,000oz of gold, compared to 86,000oz successful 2023, according to AngloGold Ashanti.

Aura Minerals president and CEO Rodrigo Barbosa said: "AngloGold Ashanti has built a beardown estimation for processing and operating world-class mines. MSG, located successful 1 of Brazil’s astir salient greenstone belts, has – according to AngloGold Ashanti – produced implicit 3 cardinal ounces since 1998, with a highest of 193,000 ounces successful 2006, underscoring its important potential.

"As a nimble institution with a proven turnaround way grounds (e.g. Apoena and Aranzazu) and a squad with heavy experience, Aura is ideally positioned to unlock the mine’s afloat potential.

"Our squad has a elaborate program – present nether implementation – to retrieve production, trim dilution, summation efficiency, and put to grow resources and reserves, each executed nether the highest information and sustainability standards of our Aura 360 culture."

The MSG golden excavation cognition comprises an unfastened pit and 3 mechanised underground mines. It features 1 dedicated metallurgical works with an yearly capableness of 1.5 cardinal tonnes.

BofA Securities provided exclusive fiscal advisory services to Aura for the transaction.

Demarest Advogados served arsenic Brazilian instrumentality adviser, and Gowling WLG (UK) acted arsenic English instrumentality advisor to Aura.

"Aura Minerals completes Mineração Serra Grande golden excavation acquisition" was primitively created and published by Mining Technology, a GlobalData owned brand.

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