{"id":10811,"date":"2012-05-29T10:15:23","date_gmt":"2012-05-29T08:15:23","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/update-2-anglogold-buys-out-brazil-mine-partner-for-220-mln\/"},"modified":"2012-05-29T10:15:23","modified_gmt":"2012-05-29T08:15:23","slug":"update-2-anglogold-buys-out-brazil-mine-partner-for-220-mln","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-anglogold-buys-out-brazil-mine-partner-for-220-mln\/","title":{"rendered":"UPDATE 2-AngloGold buys out Brazil mine partner for $220 mln"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Deal will make AngloGold Ashanti single owner of Crixas<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* To boost AngloGold&#8217;s Brazil production to over 500,000<br \/>\nounces<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocatio\/spann\">May 29 (Reuters) &#8211; South Africa&#8217;s AngloGold Ashanti Ltd<br \/>\n  has agreed to buy the 50 percent of Brazil&#8217;s<br \/>\nCrixas gold mine it does not already own for $220 million cash<br \/>\nfrom Kinross Gold Corp  as part of its drive to<br \/>\nexpand in the Americas.<\/span><\/p>\n<p><span><\/span><\/p>\n<p>AngloGold Ashanti said on Tuesday it expected the deal to<br \/>\nincrease its annual attributable production from Brazil to over<br \/>\n500,000 ounces and the contribution from the Americas region as<br \/>\nwhole to more than 1 million ounces.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;This deal further simplifies our portfolio and gives us<br \/>\ngreater exposure to Brazil, where we&#8217;ve had significant success<br \/>\nin growing our production as well as our reserve and resource<br \/>\nbase,&#8221; said AngloGold Ashanti chief executive Mark Cutifani.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We see long-term, lower risk, potential from Serra Grande<br \/>\n(Crixas), which is a key component of our strategy to grow the<br \/>\ncontribution from the Americas.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>AngloGold Ashanti said the deal would be funded by existing<br \/>\ncash reserves and debt facilities.<\/p>\n<p><span><\/span><\/p>\n<p>The transaction is the latest in a series of disposals by<br \/>\nKinross as it looks to sell off non-core assets.<\/p>\n<p><span><\/span><\/p>\n<p>Last year, it sold an 8.5 percent equity interest in diamond<br \/>\nminer Harry Winston for about C$100 million, while in<br \/>\n2010 it sold a 22.5 percent interest in the partnership holding<br \/>\nHarry Winston&#8217;s 40 percent interest in the Diavik Diamond Mines<br \/>\njoint venture.<\/p>\n<p><span><\/span><\/p>\n<p>Kinross&#8217;s share of Crixas&#8217;s proven and probable gold<br \/>\nreserves was about 375,000 ounces as of Dec. 31, and its share<br \/>\nof forecast production for 2012 was about 70,000 gold equivalent<br \/>\nounces.<\/p>\n<p><span><\/span><\/p>\n<p>Kinross said the deal was expected to be completed during<br \/>\nthe second quarter of 2012.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Deal will make AngloGold Ashanti single owner of Crixas * To boost AngloGold&#8217;s Brazil production to over 500,000 ounces May 29 (Reuters) &#8211; South Africa&#8217;s AngloGold Ashanti Ltd has agreed to buy the 50 percent of Brazil&#8217;s Crixas gold mine it does not already own for $220 million cash from Kinross Gold Corp as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10811"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}