Core Insights - Anglogold Ashanti PLC (NYSE:AU) experienced a significant decline of 11.3% on Tuesday, closing at $66.78, as investors sold off gold mining stocks following a major drop in gold prices [1][2] - The decline in Anglogold's stock price mirrored the sharp decreases in gold and silver prices, which fell by 6.3% and 8.7% respectively during the same day [2] - The Colombian National Mining Agency denied Anglogold's request for a suspension of obligations related to its $1.4 billion Quebradona copper project, citing legal contradictions in the company's requests [3][4] Company Developments - The Quebradona project is fully owned and managed by Anglogold Ashanti and is viewed as a high-potential, low-cost copper production opportunity [5] - The Colombian agency stated that Anglogold did not provide sufficient evidence to support claims of exceptional circumstances in its application for suspension [4] Market Context - The recent sell-off in gold mining stocks appears to be a profit-taking move by investors after a period of rising precious metal prices [3] - Despite the current challenges, there is recognition of Anglogold's potential as an investment, although some analysts suggest that AI stocks may offer better returns with lower risks [6]