AngloGold Ashanti Completes Acquisition of Kinross Gold's Interest in Serra Grande

AngloGold Ashanti Ltd. completed an acquisition of Kinross Gold Corporation's 50 per cent interest in the Crixás gold mine (Serra Grande), located in the State of Goiás, Brazil, for gross cash proceeds of US$220 million. AngloGold Ashanti, the holder of the other 50 per cent, is the operator of the Crixás gold mine.

AngloGold Ashanti has 20 operations in 10 countries on four continents, as well as several exploration programmes in both the established and new gold producing regions of the world. AngloGold Ashanti employs more than 61,000 people, including contractors. While AngloGold Ashanti's primary listing is on the Johannesburg Stock Exchange, the company is also listed on the London Stock Exchange, the New York Stock Exchange, the Ghana Stock Exchange and the Australian Securities Exchange.

Kinross is a Canadian-based gold mining company with mines and projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and the United States, employing approximately 8,000 people worldwide. Kinross maintains listings on the Toronto Stock Exchange and the New York Stock Exchange.

AngloGold Ashanti was represented internally by Samantha Hogben, Assistant General Counsel, and externally in Canada by Stikeman Elliott LLP with a team that included Jay Kellerman, Timothy Chubb and Kevin Smyth (securities); in the UK by a team from Slaughter and May that included Craig Cleaver and Jeremy Chew (corporate) and Gareth Miles and Tom Jarvis (tax); and in Brazil by Barbosa, Müssnich & Aragão Advogados, with a team that included Camila Chouzal, Daniel Falcão de Paula Soares and Cecilia Corção de Salles (corporate).

Kinross was represented internally by Geoffrey Gold, Executive Vice President and Chief Legal Officer and Kathleen Grandy, Senior Legal Counsel, and externally in Canada by a team from Blake, Cassels & Graydon LLP that included Jeff Lloyd and Norbert Knutel (M&A/securities); in the UK by a team from Dechert LLP that included Laura Brank and Olga Watson (corporate and M&A) and Mark Stapleton and Daniel Hawthorne (tax); and in Brazil by Veirano Advogados, with a team that included Alexandre Bittencourt Calmon, Daniel Cardoso Coelho and Julia Costa de Oliveira (corporate).