Mineros has signed a definitive agreement to purchase a gold exploration project in Tolima, Colombia, from AngloGold Ashanti’s subsidiary.
This agreement involves the acquisition of all shares of AngloGold Ashanti Colombia, which holds the EIG-163 mining concession contract allowing for gold exploration in Cajamarca, Tolima.
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The transaction does not include the Quebradona project, which AngloGold Ashanti continues to develop.
The gold exploration project is situated around 150km west of Bogotá and 30km west of Ibagué.
Exploration work has been mostly suspended since 2017 due to delays in obtaining environmental permits.
The acquisition will be executed on a cash-free, debt-free basis, with Mineros agreeing to pay $10m (37.64bn pesos) in cash upon closing.
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By GlobalDataAdditionally, there is a contingent consideration of up to $60m depending on mineral ore tonnage authorised under a “plan de trabajo y obras” and an environmental licence.
The transaction is set to conclude in the first quarter of 2026, contingent upon standard conditions.
The company plans to shift away from the project’s historical identity as La Colosa by collaborating with local stakeholders to establish a new project identity.
Mineros emphasised that progression will depend on regulatory approval, environmental authorisation and community agreement.
According to a historical resource estimate by AngloGold Ashanti in December 2024, the site contains indicated resources of 23.35 million ounces (moz) of gold with an average grade of 0.87 grams per tonne (g/t) and inferred resources of 4.98moz at 0.71g/t.
In August 2025, Mineros agreed to acquire an additional 80% interest in the La Pepa gold exploration project from Pan American Silver for $40m.
