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AngloGold Ashanti places CDS mine in Brazil on care and maintenance after 'sustained' losses

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- AngloGold Ashanti , one of the world’s largest gold producers, announced today that AngloGold Ashanti Brasil, the company’s wholly-owned subsidiary, has placed the Córrego do Sítio mine on care and maintenance after “sustained” operating losses.

“The company believes that layoffs are always the last resort and has taken reasonable steps to reduce the number of people affected by this transition to care and maintenance, including through the placement of some employees elsewhere in the company where equivalent roles exist,” it added. The company said the impact of the cessation of production at the mine will be disclosed in AngloGold Ashanti’s third quarter market update, in November.

 

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