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Highlights

  • Resolute Mining to acquire Doropo and ABC gold projects from AngloGold Ashanti for US$150 million.

  • The deal includes cash, deferred payments, royalties, and contingent milestones.

  • Acquisition boosts Resolute’s near-term production outlook to over 500,000 ounces.

Resolute Mining (ASX:RSG) has announced a major strategic acquisition, agreeing to purchase two gold projects in Côte d’Ivoire from AngloGold Ashanti in a deal valued at US$150 million (AU$234 million), aimed at significantly expanding its West African footprint and boosting its production profile.

The transaction involves the acquisition of the Doropo and ABC gold projects, two assets with a combined mineral inventory of over 4 million ounces. Doropo, currently at the feasibility stage, boasts a reserve of approximately 1.9 million ounces of gold, while ABC is a greenfield exploration project with an inferred resource of around 2.2 million ounces.

Under the deal structure, Resolute will make an upfront cash payment of US$25 million, followed by deferred payments totaling US$125 million — US$50 million due 18 months post-closing, and US$75 million due after 30 months. The agreement also includes a 2% royalty on the ABC project and a US$10 million contingent payment if a feasibility study confirms a mineral reserve of more than one million ounces at ABC.

As part of the arrangement, Resolute will also transfer all of its exploration permits in neighbouring Guinea to AngloGold Ashanti.

Managing Director Chris Eger called the acquisition “a compelling opportunity” that aligns with Resolute’s growth strategy. “The Doropo and ABC Projects present a compelling opportunity to diversify and increase our production profile in the near term to over 500,000 ounces,” Eger stated.

The deal is expected to significantly reshape Resolute’s portfolio, which already includes an 80% stake in the Syama gold mine in Mali, one of its core producing assets. The remaining 20% of Syama is held by the Government of Mali.