The mine has produced a total of 5.8 million ounces of gold since 2009.
AngloGold Ashanti has struck a $2.5 billion deal with Centamin of Egypt. The celebrated deal makes AngloGold the world’s fourth-largest gold producer.
The acquisition comprises Egypt’s largest Sukari mine, adding approximately 450,000 ounces to AngloGold’s yearly production, increasing its total to 3.1 million ounces.
The deal gives Centamin shareholders 0.06983 of AngloGold shares and $0.125 per share in cash, while AngloGold shareholders will own 83.6% of the combined entity.
According to the Petroleum and Mineral Resources Ministry, the mine in production since 2009 has produced a total of 5.8 million ounces since it began operations.
Story: Kwabena Kyekyeku
