AngloGold to acquire Centamin for $2.5 billion

The deal will grant AngloGold control of the Sukari Gold Mine, Egypt’s largest and first modern gold mine.

Sukari is one of the largest producing mines. It has produced over 5.9 million ounces of gold since its beginning production in 2009.

After the acquisition, it is anticipated that AngloGold Ashanti shareholders will own 83.6 percent, while Centamin will own approximately 16.4 percent.

Centamin's annual gold production from Sukari reached 450,058 ounces in 2023.

In 2023, Centamin has raised its estimates of gold reserves in Egypt's largest producing mine by 10 percent from 5.3 million to 5.8 million ounces. 

Centamin produced 450,058 ounces of gold in 2023, up from 440,974 ounces in 2022.

Egypt's gold production amounts to about 15.8 tons per year, most of which comes from Sukari in the Eastern Desert, according to a report by the World Gold Council.