AngloGold Ashanti in talks to sell Brazil mine

Bnamericas Published: Wednesday, January 04, 2023
AngloGold Ashanti in talks to sell Brazil mine

AngloGold Ashanti is in talks to sell its Brazilian Córrego do Sítio mine, operated by subsidiary AGA Mineração.

"AngloGold Ashanti is continually in the process of reviewing opportunities for improvement in its portfolio of assets worldwide. As part of this process, it maintains conversations with companies in the sector, evaluating the best options for Córrego do Sítio in Santa Bárbara, in Minas Gerais state," the company told BNamericas in an email.

"At the moment, there are only discussions of proposals and possibilities for the site. At this moment, there is no conclusion," it added.

Previously, a local outlet, citing anonymous sources, reported that AngloGold was in talks with Jaguar Mining. But Jaguar Mining representatives did not immediately reply to a request for comment.

Córrego do Sítio is in operation since 1989 and consists of one open pit and one underground mine.

"About three months ago, AngloGold informed employees of the intention to sell this asset, but did not say who would be interested. This mine is a profitable operation. I believe that the sale is a decision of the company only to implement a portfolio renewal," Marcelino Antônio Edwirges, the president of a union representing AngloGold employees, told BNamericas.

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