AngloGold Ashanti to Acquire Centamin for $2.5 Billion, Including Sukari Mine and 37% Premium

Sep 10, 2024, 07:39 AM

AngloGold Ashanti has agreed to acquire gold mining company Centamin Plc for approximately £1.9 billion ($2.5 billion). The acquisition is driven by high gold prices and the strategic value of Centamin's assets, including the Sukari mine in Egypt, which will take AngloGold’s output above 3 million ounces. This deal represents a significant consolidation in the precious metals mining sector as big producers look to expand amid near-record gold prices. The acquisition also delivers a 37% premium to Centamin's shareholders and marks a notable development in the London stock market.