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In a Transaction of US$ 76 Million, Canadian Aura Minerals Bought the Largest Gold Mine in Operation in Goiás from AngloGold Ashanti, a Movement That Redraws the Map of Mining in the Country.
A major impact transaction shook the Brazilian mining sector. In a US$ 76 million deal, Canadian Aura Minerals acquired Mineração Serra Grande, in Crixás (GO), which was owned by the South African giant AngloGold Ashanti. The sale not only transfers control of the largest gold mine in operation in Goiás, but also creates a new giant of precious metals in Brazil.
The story of this sale is a classic example of opposing corporate strategies. While a global giant optimizes its portfolio, a growing company bets on revitalizing a world-class asset to establish itself as a relevant force in the country’s gold mining scene.
What Is the Serra Grande Mine? The Crown Jewel in Crixás (GO)
Mineração Serra Grande is one of Brazil’s most important gold ventures. Located in the Goiás municipality of Crixás, the operation, which began in the 1980s, comprises three underground mines and an open-pit mine.
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Its relevance is proven by the numbers. Since 1998, the mine has produced over 3 million ounces of gold. In 2024, its production was approximately 80,000 ounces, which keeps it as a significant asset in the national scene. With proven and probable reserves of 370,000 ounces and even greater resource potential, the mine has a promising future.
A US$ 76 Million Deal: The Details of the Sale in 2025
The agreement between Aura Minerals and AngloGold Ashanti was officially announced on June 2, 2025. The transaction was structured with a payment of US$ 76 million in cash, which will be made upon closing the deal.
In addition to the upfront payment, the agreement provides for a future payment of 3% royalties to AngloGold. This payment will be calculated on the revenue from gold production extracted from the reserves that are already known in the mine. The final closing of the deal is expected in the third quarter of 2025, after meeting certain conditions, such as approval from CADE, the competition defense agency in Brazil.
Why Did AngloGold Sell the Largest Gold Mine in Operation in Goiás?
For AngloGold Ashanti, one of the world’s largest gold mining companies, the sale of Serra Grande is part of a global strategy. The company is optimizing its portfolio to focus on larger and lower-cost assets that generate a higher return for its shareholders.
“This sale ensures that we further enhance our focus on capital allocation and operational efficiency”, said AngloGold’s global CEO, Alberto Calderón. Despite being productive, Serra Grande was one of the company’s smaller-scale operations worldwide, which motivated the decision to sell it to an operator who could dedicate themselves entirely to it.
The Vision of Aura Minerals: Why the Canadian Company Bought the Mine?
While AngloGold saw an asset to optimize its portfolio, Aura Minerals saw a growth opportunity. The company, which already operates other mines in Brazil, specializes in acquiring and revitalizing operations with great potential.
The president of Aura, Rodrigo Barbosa, stated that the company believes it is possible to increase production, reduce costs, and extend the mine’s lifespan, transforming it into one of the company’s main assets. Aura plans to apply its “360° mining” model to unlock all the value of the largest gold mine in operation in Goiás.
The Future of Gold Mining in Goiás with the New Owner
With the sale’s completion expected in 2025, the anticipation is that Aura Minerals will begin a new cycle of investments in Crixás. The company bets that its previous knowledge of the operation and its expertise in revitalizing mines will be crucial for success.
For the Goiás region and the Brazilian mining sector, the transaction is positive. It ensures the continuity and potential expansion of a vital operation, which generates jobs and wealth, now under the command of a company fully focused on transforming Serra Grande into one of its most important projects.
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