AngloGold Ashanti has announced a strategic realignment of its West African portfolio through the sale of its interests in two exploration projects in Côte d’Ivoire and the acquisition of a promising brownfield project in Guinea. The dual transaction involves the disposal of Centamin West Africa Holdings to Resolute Mining and the acquisition of Toro Gold Guinée Sarlu, the holder of Guinea’s Mansala project.
The agreement sees AngloGold exit the Doropo and Archean-Birimian Contact projects in Côte d’Ivoire, assets it gained through its November acquisition of Centamin. In return, AngloGold will acquire the Mansala project, which is intended to supplement its existing Siguiri gold operations in Guinea.
“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.”
The $175-million value of the Doropo sale includes $150 million in cash, plus either the Mansala project or an additional $25 million if the acquisition is not finalized within 18 months. That timeline is subject to permit renewals for Toro Gold Guinée Sarlu and final approval from the Guinean government.
Doropo spans seven exploration permits over 1,850 km² in northeast Côte d’Ivoire, approximately 480 km from Abidjan. It features 13 main gold deposit clusters, 11 of which are concentrated within a 7 km radius. With prefeasibility and definitive feasibility studies completed and an environmental permit secured in June 2024, Doropo is awaiting a mining license. The project boasts a proven and probable reserve of 1.9 million ounces of gold at an average grade of 1.53 g/t, with expected annual production of 167,000 ounces over a ten-year mine life.
Meanwhile, the Archean-Birimian Contact greenfield project, located 460 km west of Doropo, holds an inferred mineral resource of 1.6 million ounces at an average grade of 0.98 g/t. The agreement stipulates a $10-million payment upon the declaration of a compliant one-million-ounce mineral reserve on current tenements and a 2% net smelter royalty on future gold production.
Resolute Mining, a company with a strong African footprint through its Syama mine in Mali and Mako mine in Senegal, will assume ownership of both Ivorian projects, enhancing its exploration and development portfolio in the region.
AngloGold’s acquisition of the Mansala project is expected to unlock further value at its Siguiri site, with development potential dependent on regulatory approvals and permit renewals.
This move underscores AngloGold Ashanti’s commitment to consolidating its operations and optimizing its asset base in high-priority regions of Africa.
