AngloGold idles Brazilian operation

AngloGold Ashanti has placed one of its smallest operations, Corrego do Sitio (CDS) in Brazil, on care and maintenance to lower costs and stem runaway losses, reported Reuters.

“The mine has been unable to sustain itself or to fund the capital needed to ensure its long-term future,” said AngloGold, noting that there were plans to sell CDS but it failed to attract any interested buyers.

CDS, located in Brazil’s Minas Gerais state, produced 69,000 ounces of gold in 2022.

Source: Reuters

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