Aura Minerals Agrees to Acquire the Mineração Serra Grande Gold Mine in Goiás, Brazil

Core Viewpoint - Aura Minerals Inc. has entered into a Share Purchase Agreement with AngloGold Ashanti to acquire Mineração Serra Grande S.A., which owns the Serra Grande gold mine in Brazil, highlighting the company's strategy to enhance its portfolio and production capabilities [1][4]. Transaction Details - The transaction is expected to close by Q3 2025, and no later than Q4 2025 [3]. - Aura will pay an upfront cash consideration of US$ 76 million, subject to working capital adjustments, along with deferred payments equivalent to a 3% net smelter returns participation over the identified mineral resources [9]. - The transaction is contingent upon several conditions, including anti-trust approval from Brazilian authorities and the completion of a decommissioning process by AngloGold [9]. Mine Overview - The Serra Grande mine has produced over 3 million ounces of gold since 1998, with a peak production of 193,000 ounces in 2006, indicating its significant potential [4]. - The MSG operation includes three mechanized underground mines and an open pit, with a metallurgical plant that has an annual capacity of 1.5 million tons [5]. Mineral Resources - As of December 31, 2024, AngloGold reported total measured and indicated resources of 10.75 million tons of gold at an average grade of 3.14 g/t, equating to approximately 1.08 million ounces [6]. - Inferred mineral resources were reported at 12.95 million tons at an average grade of 3.39 g/t, amounting to about 1.4 million ounces [6]. Production Data - In 2024, the Serra Grande mine produced 80,000 ounces of gold, a decrease from 86,000 ounces in 2023 [7].