AngloGold Ashanti Sells Stake in Gramalote Project to B2 Gold Corp

AngloGold Ashanti, the South African gold miner, has announced the sale of its 50% indirect interest in the Gramalote project in Colombia to B2 Gold Corp for up to $60 million. This move is part of AngloGold Ashanti's strategy to shift its focus towards projects it intends to develop.

The transaction is expected to close by the end of this year, with AngloGold Ashanti receiving $20 million in cash upon completion. The remaining amount will be paid based on project construction and meeting certain production milestones.

Upon the completion of the sale, B2 Gold will gain full ownership of the Gramalote project.

According to Chief Executive Alberto Calderon, this sale will allow AngloGold Ashanti to concentrate on its operating assets and the projects it plans to develop. He also emphasized that the company remains a committed, long-term investor in Colombia, with a notable stake in the Quebradona copper and gold project. AngloGold Ashanti aims to contribute to the development of a modern and responsible mining sector in the country.