AngloGold Ashanti Signs $66.5 Million Deal to Take Full Control of Ghana’s Iduapriem Gold Mine

The agreement marks the end of an eight-year mining services partnership between the two companies and signals AngloGold Ashanti’s move to manage mining operations at the site in-house.

Six-Month Transition Period

Under the terms of the agreement, African Mining Services (AMS)—Perenti’s mining subsidiary—will continue providing operational support during a transition period expected to last approximately six months.

The phased handover is intended to ensure a smooth transfer of mining activities while maintaining production continuity at the mine.

AngloGold to Acquire Mining Equipment

As part of the transition, AngloGold Ashanti will purchase the majority of the heavy mining fleet currently owned and operated by AMS at the Iduapriem mine.

The acquisition will enable the company to continue operations with existing equipment as it fully integrates mining activities under its own management.

Perenti to Reinvest Proceeds

Perenti expects the sale of the mining equipment to generate between US$21 million and US$28 million (A$30 million to A$40 million) in cash.

The Australian contractor said the proceeds will be used to recycle capital into other projects and strengthen its operations across its broader mining services portfolio.

Strategic Shift for AngloGold Ashanti

The transition reflects AngloGold Ashanti’s strategy of bringing key mining operations under direct management, providing greater operational control and flexibility at one of its Ghanaian assets.

The Iduapriem Gold Mine, located in the Western Region of Ghana, remains an important contributor to the company’s African gold production. The move to in-house operations is expected to support long-term efficiency, enhance decision-making, and align mine management more closely with AngloGold Ashanti’s broader operational objectives.

The agreement also concludes a longstanding collaboration with Perenti, whose subsidiary has provided contract mining services at the mine for nearly a decade. The orderly transition is expected to minimize disruptions while positioning both companies to pursue their respective strategic priorities.