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AngloGold Ashanti agrees to buy out Canada’s Corvus Gold

JOHANNESBURG, Sept 13 (Reuters) – AngloGold Ashanti agreed on Monday to buy out Canadian-listed Corvus Gold for 4.10 Canadian dollars per share in a deal valuing the exploration firm at 570 million Canadian dollars ($450 million).

The South African gold miner said the purchase of the 80.5% of Corvus shares it didn’t yet own consolidates the two companies’ projects in the Beatty District in southern Nevada and gives it the opportunity to establish a low-cost production base in the United States.

“This transaction delivers a compelling, district-wide consolidation in Nevada, which allows for the Beatty District to become a potential Tier 1 asset for AngloGold Ashanti,” Alberto Calderon, AngloGold Ashanti CEO, said in a statement. ($1 = 1.2661 Canadian dollars) (Reporting by Helen Reid; Editing by Emelia Sithole-Matarise)

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