AngloGold Ashanti, a prominent South African gold mining company, is set to acquire Centamin, a British gold miner, in a substantial $2.5 billion deal. This acquisition prominently features Centamin’s Sukari mine in Egypt, which stands out as North Africa’s largest and first modern gold mine.
Under the terms of the agreement, Centamin’s total share capital is valued at approximately £1.9 billion, equivalent to $2.5 billion. This strategic move is expected to significantly enhance AngloGold Ashanti’s production capabilities. The addition of the Sukari mine is projected to increase the company’s annual gold output by around 450,000 ounces, pushing its total production to over 3 million ounces each year. Since its inception in 2009, AngloGold Ashanti has extracted a total of 5.9 million ounces of gold from its various deposits.
Alberto Calderon, CEO of AngloGold Ashanti, emphasized that this acquisition represents a major boost to their asset portfolio. He highlighted that the deal will be cash flow positive in its first full year and will immediately contribute to an increase in net asset value. Additionally, the acquisition is anticipated to unlock further growth potential through leveraging the company’s established expertise in exploration, operational efficiency, and asset management.
AngloGold Ashanti, headquartered in Johannesburg, South Africa, was established in 2004 through the merger of AngloGold and Ashanti Goldfields. The company operates across multiple regions, including South Africa, Ghana, Australia, and Brazil, focusing on gold mining and the exploration of other mineral resources.
Centamin, founded in 2009 and headquartered in London, operates as an incorporated entity in both Australia and the UK. The company’s strategic assets, including the Sukari mine, are expected to play a key role in enhancing AngloGold Ashanti’s global gold production footprint.
