AngloGold Ashanti plc has announced an agreement to divest its interests in two gold projects located in Côte d’Ivoire to Resolute Mining Limited.

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The move is part of the company’s strategy to concentrate on its core operating assets and development initiatives, particularly in the United States.

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The transaction involves the sale of Centamin West Africa Holdings Limited (CWAH), which holds the Doropo and Archean-Birimian Contact (ABC) projects. Both are located in different regions of Côte d’Ivoire and will be transferred to Resolute, a mining company with substantial operations and experience across West Africa.

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AngloGold Ashanti obtained its stake in these projects through the acquisition of Centamin plc in November 2024. A subsequent review of its project portfolio concluded that the Doropo Project, due to its scale and competition for funding within the company’s broader portfolio, would be better advanced under an operator with a targeted regional focus and sufficient capital. Consequently, the ABC Project, which is in its early stages, was also included in the sale to complement Resolute’s regional exploration strategy.

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“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, to benefit all stakeholders.”

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The sale, which is expected to be completed on May 1, 2025, is unconditional.

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As part of the arrangement, AngloGold Ashanti will also acquire Toro Gold Guinée Sarlu (TGG) from Resolute. TGG holds the permits for the Mansala Project in Guinea, which lies adjacent to AngloGold Ashanti’s existing Siguiri mine. The company plans to develop the Mansala site as a brownfield expansion to support Siguiri’s operations. This acquisition, however, is contingent upon the renewal of permits and approval by the Government of Guinea. These conditions must be fulfilled within 18 months following the closing of the Côte d’Ivoire sale; otherwise, the acquisition will be cancelled.

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The Doropo Project’s sale price is valued at US$175 million. This includes a cash payment of US$150 million and either the acquisition of the Mansala Project or an additional US$25 million if the acquisition is not finalized within the stipulated 18-month period.

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The Doropo payment will be made in three stages:

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US$25 million in cash upon closing of the sale;

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US$50 million in cash 18 months later, with an additional US$25 million if the Mansala acquisition does not proceed; and

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US$75 million in cash 30 months after closing.

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For the ABC Project, AngloGold Ashanti will receive a milestone payment of US$10 million once a JORC-compliant 1.0 Moz Mineral Reserve is declared on the tenements. Additionally, a 2% Net Smelter Royalty will apply to any gold production derived from these tenements.

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Doropo Project Overview

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The Doropo Project consists of seven exploration permits covering roughly 1,850 km² in northeastern Côte d’Ivoire, approximately 480 km from Abidjan. It encompasses 13 gold deposits, with 11 forming the Main Resource Cluster within a 7 km radius.

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Following a pre-feasibility study completed in 2023 and a definitive feasibility study (DFS) in 2024, the project secured its environmental permit in June 2024 and awaits mining license approval from the Ivorian government. The Doropo Project contains Measured and Indicated Mineral Resources of 0.9 million ounces at 1.02g/t, Inferred Resources of 0.3 million ounces at 1.23g/t, and Proven and Probable Reserves of 1.9 million ounces at 1.53g/t. The DFS projects an annual average production of 167,000 ounces over a ten-year mine life.

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ABC Project Overview

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Situated in the northwest of Côte d’Ivoire, around 550 km from Abidjan and 460 km west of the Doropo site, the ABC Project is in the early exploration phase. It includes three permits spanning a total area of 1,148 km². The project currently has an Inferred Mineral Resource estimate of 1.6 million ounces at 0.98g/t.

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About Resolute Mining

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Resolute Mining Limited is a seasoned gold producer with over three decades of experience developing and operating ten gold mines that have yielded more than 9 million ounces of gold. Listed on both the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG, the company operates two active mines: Syama in Mali and Mako in Senegal. Resolute is also actively exploring new opportunities across Mali, Senegal, and Guinea.

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