South Africa’s AngloGold Ashanti has reached a $66.5 million transition agreement to regain direct control of its historic Iduapriem gold mine in western Ghana.
The deal with Australian mining contractor Perenti ends an eight-year partnership under which Perenti’s subsidiary, African Mining Services, operated the mine’s surface mining activities.
Under the agreement, AngloGold Ashanti will acquire most of the equipment currently used at the mine.
African Mining Services will continue providing support services for about six months to ensure a smooth transition to AngloGold Ashanti’s direct operations.
The sale of the equipment is expected to generate up to $28 million for Perenti.
Located near Tarkwa in Ghana’s Western Region, Iduapriem is an open-pit mine with more than 2.1 million ounces of gold reserves.
AngloGold Ashanti said the transition would give it greater flexibility in managing the asset while allowing Perenti to redeploy capital elsewhere.
Both companies said they remain committed to maintaining operational standards and workplace safety throughout the handover process.