08:23 AM EDT, 06/02/2025 (MT Newswires) -- Aura Minerals (ORA.TO) on Monday said it agreed to acquire the Mineracao Serra Grande gold mine in Brazil from AngloGold Ashanti (AU) for US$76 million in cash and 3% net smelter returns payments.

The company said the mine produced 80,000 ounces of gold in 2024 from three underground operations and an open pit. A mineral resource estimate dated year-end 2024 showed a measured resource of 1.08-million ounces of gold and a further 1.4-million ounce indicated resource.

"As a nimble company with a proven turnaround track record and a team with significant previous knowledge of Serra Grande, Aura is well positioned to unlock the mine's potential. Through our disciplined capital allocation, Aura 360 culture, and a targeted exploration program, we believe we can significantly enhance performance, boost production, reduce costs, and extend the Life of Mine at Serra Grande," chief executive Rodrigo Barbosa said in a release.

Aura expects the sale to close no later than the fourth quarter, subject to regulatory approvals and AngloGold completing the decommissioning of a tailings dam storage facility.

Aura shares closed down $0.87 to $31.18 Friday on the Toronto Stock Exchange.

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