AngloGold Ashanti, the Johannesburg-headquartered global gold producer, has invested $20.4 million (105 million Brazilian reais) to restart a processing plant at its Queiroz industrial complex in Brazil, restoring the company’s ability to process all of its locally produced gold concentrate domestically.

The investment allows AngloGold Ashanti to return the Queiroz complex to a processing capacity of 280,000 metric tons of gold concentrate annually, strengthening its vertically integrated operations in Brazil and reducing its reliance on external processing arrangements.

Brazil plant restart restores full processing capacity

The miner reactivated its second plant at the Queiroz industrial complex this month, according to Luis Lima, AngloGold Ashanti’s head of Latin America, who disclosed the development on the sidelines of a mining event in Belo Horizonte.

The company had previously restarted the complex’s other processing plant in 2024 after both facilities were shut down in 2022, primarily for adjustments related to liquid-waste treatment.

With both plants now operating, AngloGold Ashanti can once again process the full volume of gold concentrate produced by its Brazilian mines within the country. While only one plant was operating, the company had been selling part of its gold concentrate on the market, Lima said.

Vertical integration drives investment

Lima said the decision to reactivate the second plant was driven primarily by AngloGold Ashanti’s strategy of maintaining greater control over its processing operations.

The Queiroz complex forms an important part of the company’s vertically integrated Brazilian operations, allowing it to process gold concentrate locally rather than relying entirely on third-party facilities or selling unprocessed concentrate.

The complex also produces sulfuric acid, with annual production capacity of approximately 240,000 tons, adding another component to AngloGold Ashanti’s Brazilian processing operations.

Brazil strengthens AngloGold Ashanti’s operating footprint

The restoration of full processing capacity comes as AngloGold Ashanti continues to operate across the gold mining value chain, from exploration and mine development to production, processing and rehabilitation.

The company, formed in 2004 through the merger of AngloGold and Ashanti Goldfields, is headquartered in Johannesburg and operates as a global gold producer.

The Brazilian investment reinforces the company’s existing infrastructure in one of its key Latin American markets while allowing it to capture more value from locally produced concentrate through domestic processing.

Investors remain focused on AngloGold Ashanti

The plant restart comes against a backdrop of continued institutional investor interest in AngloGold Ashanti. Bank of New York Mellon acquired 1.25 million shares of the company in the second quarter, valued at $100.8 million and representing about 0.25% of the miner, according to its latest regulatory filing.

Other major investors have also increased their positions, including Arrowstreet Capital, State Street and Capital World Investors, while Norges Bank acquired a new stake.

AngloGold Ashanti recently reported quarterly earnings per share of $1.98, slightly below analysts’ consensus estimate of $2.03, while revenue reached $3.10 billion against expectations of $3.20 billion. The company also declared a quarterly dividend of $0.72 per share.

The return of both Queiroz processing plants gives AngloGold Ashanti greater control over its Brazilian production chain and restores the complex’s full 280,000-ton annual processing capacity. The key focus now will be whether the additional capacity improves operational efficiency and supports stronger returns from the company’s Brazilian gold operations.