Aura Minerals to acquire Mineracao Serra Grande gold mine

Aura Minerals (ORAAF) announced that Aura, AngloGold Ashanti (AU) and a wholly owned subsidiary of Aura have entered into a Share Purchase Agreement pursuant to which Aura’s wholly owned subsidiary will acquire from AngloGold all of the issued and outstanding securities of Mineracao Serra Grande owner of the Mineracao Serra Grande gold mine located in Crixas, in the state of Goias, Brazil. Transaction Highlights: In consideration for the acquisition of MSG, Aura will pay to AngloGold: an upfront cash consideration of $76M on closing subject to certain working capital adjustments as at the closing date; plus deferred consideration payments equivalent to a 3% net smelter returns participation over the currently identified Mineral Resource of MSG payable quarterly. The Transaction excludes certain current subsidiaries of MSG, which hold assets that do not form part of MSG’s mining operations or Mineral Resources and Mineral Reserves. These subsidiaries will be spun off from MSG prior to closing of the Transaction. The Transaction is subject to the fulfilment of certain conditions precedent, including: Anti-trust approval from the Brazilian authorities; The completion by AngloGold of an ongoing decommissioning of a legacy tailings dam storage facility; The completion of the MSG Subsidiaries Transfer; and No Material Adverse Event occurring prior to closing. The closing of the Transaction is expected to happen by Q3 2025, and no later than Q4 2025.