AngloGold Ashanti suspends operations at Brazil mine
AngloGold Ashanti announced the temporary suspension of its Brazilian Córrego do Sítio mine, which is operated by subsidiary AGA Mineração.
The mine is located in Santa Bárbara, Minas Gerais state.
"The unit was working with negative operating results and increasing cost over the last few years. Thus, even after several studies of alternatives, there was no viable scenario for the continuity of the operation at this time,” the company said in a statement. The suspension is temporary and will be “systematically reassessed over the coming years," it added.
Earlier this year, AngloGold confirmed that it was in talks to sell the mine, but they have not advanced.
Córrego do Sítio has been in operation since 1989 and consists of open pit and underground operations. Combined annual production capacity is 1.6Mt.
The company said its other units in Brazil continue to operate as normal and they will receive an investment of around 1bn reais (US$204mn) this year.
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