Aura Minerals Inc. has reached an agreement to acquire the Mineração Serra Grande (MSG) gold mine, located in Goiás, Brazil, from AngloGold Ashanti plc.
The deal includes an upfront cash payment of $76 million, subject to closing date working capital adjustments, along with deferred payments based on a 3% net smelter return tied to MSG’s current Mineral Resource, including its Mineral Reserve. These deferred payments will be made quarterly in cash.
MSG, AngloGold Ashanti’s smallest and among its highest-cost operations, has recently focused on stabilizing operations and completing the decharacterization of its legacy tailings storage facility, a condition nearing fulfillment. AngloGold Ashanti CEO Alberto Calderon stated that the sale will sharpen the company’s focus on capital allocation and portfolio optimization, ensuring the mine transitions to responsible new ownership. Aura will acquire Mineração Serra Grande S.A., the company holding MSG, while certain non-core subsidiaries and properties will remain with AngloGold Ashanti following a planned spin-off prior to deal closure.
The sale remains contingent on the approval of Brazil’s antitrust authority (CADE), completion of the TSF decharacterization, successful execution of the subsidiary transfer, and the absence of any material adverse events prior to closing. The transaction is expected to close in the third quarter of 2025.
Located near the town of Crixás, MSG consists of three mechanized underground mines and an open pit operation, all feeding into a single metallurgical plant with a capacity of 1.5 million tonnes per year. As of December 31, 2024, MSG reported Measured and Indicated Mineral Resources of 1.08 million ounces of gold at an average grade of 3.14 g/t, Inferred Resources of 1.41 million ounces at 3.39 g/t, and Proven and Probable Reserves of 0.37 million ounces at 2.72 g/t. The mine produced 80,000 ounces of gold in 2024.
Aura Minerals, headquartered in the British Virgin Islands and listed on both the Toronto and Brazil Stock Exchanges, operates five mines across the Americas, including three in Brazil, one in Honduras, and a copper-gold-silver mine in Mexico. The company also holds two development projects in Brazil and recently acquired a gold development asset in Guatemala.
The acquisition of MSG follows Aura’s recent announcement of securing exploration rights to the Pé Quente and Pezão projects in Mato Grosso, Brazil, near its Matupá project. These newly acquired projects span over 28,000 hectares and may significantly boost the mineral resources and reserves of Matupá. Aura plans to invest $1.6 million in drilling over the next 12 months to validate and expand the existing geological data.
Aura’s President and CEO Rodrigo Barbosa emphasized that incorporating these projects into the Matupá development reflects the company’s broader strategy of consolidation and growth, aiming to leverage operational scale and high environmental and social standards. Aura continues to advance its 360° Mining philosophy, prioritizing sustainable value creation for shareholders, employees, and communities alike.
