- AngloGold will acquire the nearby Mansala Project in Guinea, pending government approval and permit renewal
- The deal includes $150 million in cash and an optional $25 million or asset swap (Mansala Project in Guinea)
- The sale aligns with AngloGold’s focus on core U.S. operations and efficient capital allocation
AngloGold Ashanti plc has agreed to divest its interests in two gold projects located in Côte d’Ivoire to Resolute Mining Limited, as part of its strategy to concentrate more on its core operations and development initiatives in the United States. The assets being sold include Centamin West Africa Holdings Limited (CWAH), which owns both the Doropo Project and the Archean-Birimian Contact (ABC) Project. Resolute, which has a strong operational presence in West Africa, will acquire these assets in the transaction (the “Sale”).
AngloGold Ashanti gained indirect ownership of the projects through its acquisition of Centamin plc in November 2024. Following an internal review, the company concluded that due to the size of the Doropo Project and competition for capital within its portfolio, the projects would have better prospects under a company like Resolute, which has the operational focus and resources to drive development efficiently.
Given Resolute’s strategic interest in Côte d’Ivoire, the early-stage ABC exploration project is also included in the deal.
“This sale supports our commitment to disciplined capital allocation and maximizing value from our current portfolio,” said AngloGold Ashanti CEO, Alberto Calderon. “We are confident these assets will thrive under Resolute’s stewardship for the benefit of all stakeholders.”
The transaction is expected to be finalized on May 1, 2025, with no conditions to completion.
In a related move, AngloGold Ashanti will acquire Toro Gold Guinée Sarlu (TGG) from Resolute. TGG holds the rights to the Mansala Project in Guinea, located next to AGA’s Siguiri mine. The Mansala Project is expected to be developed as a brownfield extension to support the Siguiri operation.
This acquisition is contingent upon several conditions, including permit renewals and approval from the Government of Guinea, all of which must be fulfilled within 18 months of the Sale’s completion, or the acquisition agreement will lapse.
The total consideration for the Doropo Project is valued at US$175 million, which includes a cash payment of US$150 million and either the acquisition of the Mansala Project or an additional US$25 million payment if the acquisition does not proceed within the stipulated 18-month period.
The Doropo Project consists of seven exploration permits covering approximately 1,850 square kilometers in northeastern Côte d’Ivoire, around 480 kilometers north of Abidjan. The area hosts 13 gold deposits, 11 of which are grouped closely in what is referred to as the Main Resource Cluster.
