Serra Grande, Brazil

Serra Grande is located in central Brazil in the state of Goiás, about 5km from the city of Crixás.

Key metrics FY24

Ownership

100%

Mineral Reserve

0.37

million ounces of gold

Gold production

80,000

ounces

All-in sustaining costs

2,039

US$ per ounce

Capital expenditure

40

US$ million

Workforce

1,674

including contractors

Mineração Serra Grande (Serra Grande or MSG) is wholly owned by AngloGold Ashanti and is located in the northwest of the state of Goiás, central Brazil.

The Serra Grande operation comprises three mechanised underground mines, namely Mina III, Mina Nova and Mina Palmeiras, and an open pit.

One dedicated metallurgical plant with an annual capacity of 1.5Mt treats all ore mined.

A brief history

• Exploration began in 1973 with detailed mapping and diamond drilling programme that continued until 1976
• The mining operation started up in 1986 in Mina III and the metallurgical plant start-up was in 1989.
• Annual production peaked at 193,000oz in 2006, supported by high grades.
• In 2009, the metallurgical plant was expanded to 1.3Mtpa to compensate for a declining grade-profile.
• In 2012, AngloGold Ashanti, which until then had owned 50% of the mine, acquired the remaining 50% stake from the Kinross Group.