- AngloGold Ashanti (AGA), and its joint venture partner IAMGOLD Corporation (IMG), has completed the sale of its entire interest in SEMOS
- SEMOS is home to the Sadiola Mine, located in the Kayes region of Western Mali
- Before the transaction, AGA and IMG both held a 41 per cent interest in the company, with the remaining 18 per cent was held by the Republic of Mali
- During the transaction, the Republic of Mali bought a further 2 per cent interest in SEMOS and Allied Gold Corp snagged the remaining 80 per cent interest
- AGA is down 0.17 per cent on the market this afternoon and is trading at $6.06 per share
AngloGold Ashanti (AGA), and its joint venture partner IAMGOLD Corporation (IMG), has completed the sale of its entire interest in SEMOS.
SEMOS is home to the Sadiola Mine, located in the Kayes region of Western Mali. The mine commenced production in 1996 and as of December 31, 2019, it had a mineral resource of 7.76 million ounces and an ore reserve of 3.85 million ounces.
Before the transaction, AGA and IMG both held a 41 per cent interest in the company, with the remaining 18 per cent was held by the Republic of Mali.
During the transaction, the Republic of Mali bought a further two per cent interest in SEMOS (one per cent from AGA and IMG) and Allied Gold Corp snagged the remaining 80 per cent interest.
The companies received US$25 million (around A$32 million) each for their interest.
Just before the purchase, a dividend of US$20 million (around A$26 million) was paid by SEMOS to its shareholders. AGA and IMG each received US$8.2 million (around A$10 million), while the Republic of Mali received US$3.6 million (nearly A$5 million).
“Completion of the transaction is in line with our disciplined capital allocation strategy as we have moved to streamline our portfolio,” AGA Interim CEO Christine Ramon said.
“I would like to thank the Republic of Mali, IAMGOLD and the team at the Sadiola Mine for their valued contributions over more than twenty years,” she added.
AGA is down 0.17 per cent on the market this afternoon and is trading at $6.06 per share at 2:45 pm AEDT.