AngloGold Ashanti To Sell Mineração Serra Grande Mine For $76 Mln Cash; Stock Up In Pre-market

(RTTNews) - AngloGold Ashanti Plc (AU), a gold mining company, on Monday announced that it has agreed to sell its stake in the Mineração Serra Grande mine in Goiás, Brazil, to Aura Minerals Inc. (ORAAF) for $76 million in cash. The sale is expected to close in the third quarter.

The consideration includes additional quarterly payments based on 3% of net smelter returns from the mine's resources.

The company said the sale excludes certain subsidiaries of Mineração Serra Grande S.A. that hold non-mining assets, such as properties; these will remain with AGA and be spun off before the deal closes.

In the pre-market trading, AngloGold Ashanti is 4.48% higher at $45.78 on the New York Stock Exchange.