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anglogold Brazil mine now owned outright

June 29 2012 at 05:00am

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AngloGold Ashanti had taken full ownership of the Serra Grande mine in Brazil after it completed the deal to buy Kinross Gold’s 50 percent interest in the mine for $220 million (R1.85bn) in cash, it said yesterday. The company expected to raise annual output in Brazil to more than 500 000 ounces. AngloGold spokesman Alan Fine said that all conditions had been met, the transaction was final and ownership had been transferred. The company’s stock declined 0.4 percent to R283.10 yesterday. – Dineo Faku


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