AngloGold Ashanti (NYSE:AU,JSE:ANG)has agreed to sell its interests in two Côte d’Ivoire gold projects to Resolute Mining (ASX:RSG,LSE:RSG) as it hones its focus on its US operating and development assets.
The company said on April 30 that it will sell the Doropo and Archean-Birimian Contact (ABC) projects, both owned by Centamin West Africa Holdings, to Resolute for US$175 million and US$10 million, respectively.
AngloGold acquired an indirect interest in the projects when it acquired Centamin in November 2024.
“This transaction ensures we maintain our focus on disciplined capital allocation and driving efficiencies from our existing portfolio,” said AngloGold Ashanti CEO Alberto Calderon. “It also ensures these projects are in good hands.”
AngloGold said it performed a company review and determined that selling the properties to a company with the requisite operational focus and financial capacity would be the best way to maximize value.
Resolute’s focus on Africa made the divestment easier, with the sale having no conditions. The company has producing gold mines in Mali and Senegal, as well as exploration properties in Mali, Senegal and Guinea.
In November 2024, Resolute CEO Terence Holohan and two company executives were detained in Mali due to claims that the company owed US$162 million in back taxes. They were released later that month.
