AngloGold Ashanti (NYSE: AU) has terminated the earn-in joint venture at Equinox Gold’s (TSXV: EQX; US-OTC: EQXGF) Aurizona gold mine project in northeastern Brazil. Equinox now has a 100% interest in the project.
AngloGold spent US$9 million on exploration activities at Aurizona since August 2016 — data which Equinox will now own. AngloGold also established relationships with local landholders, which Equinox will seek to maintain for when it restarts regional exploration efforts.
The restoration of the dormant Aurizona mine is 60% complete, Equinox told investors in its second-quarter filings released August 3.
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