Anglogold Considers Closure Of Obuasi Mine

United States? Newmont Mining has agreed to acquire the Cripple Creek & Victor gold mine in Colorado from AngloGold Ashanti for $820M in cash plus a 2.5% net smelter return royalty for gold production from potential future underground ore, according to Reuters.


Newmont believes the deal will add 350000 ? 400,000 oz./year of gold in 2016 and 2017 at all-in sustaining costs of between $825-$875/oz.
To fund the deal, Newmont plans to conduct a public offering of 29M common shares, with an underwriter?s option to purchase up to an additional 4.35M shares.


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