AngloGold Ashanti agrees to sale of Mineracao Serra Grande mine for $76M

AngloGold Ashanti (AU) has agreed to sell its interest in Mineracao Serra Grande mine, MSG, located in the state of Goias, Brazil, to Aura Minerals. The Company will sell Mineracao Serra Grande S.A., which owns MSG to a Brazilian incorporated affiliate of Aura for the following consideration: A cash consideration of $76 million on closing subject to certain working capital adjustments as at the closing date; and Deferred Consideration Payments equivalent to a 3% net smelter returns participation over the current Mineral Resource of MSG inclusive of the Mineral Reserve – these Deferred Consideration Payments will be paid quarterly in cash.