AngloGold Ashanti terminated its option agreement for the Organullo Gold Project in Salta Province, Argentina, after a 90‑day written notice dated 29 October 2025. The termination becomes effective on 27 January 2026.
The decision follows a strategic review that concluded the project no longer met the company’s cost‑competitiveness criteria. AngloGold had invested approximately US$3.3 million in exploration and permitting, but the project’s potential did not satisfy the thresholds set for high‑probability, Tier 1 discoveries.
In 2024, AngloGold spent US$47.6 million on green‑fields exploration across seven countries and recently acquired Centamin plc, adding the Sukari mine in Egypt to its portfolio. The Organullo withdrawal removes a significant upside from the pipeline and signals a focus on projects with higher commercial viability.
Latin Metals, the owner of Organullo, remains optimistic about attracting a new partner, citing the current gold price environment—prices above US$4,000 per ounce in 2025—and the project’s fully permitted status. The company has expanded its land position around Organullo with additional mineral rights.
AngloGold’s management stated that the decision reflects a broader refinement of its exploration strategy, prioritizing assets that better fit its portfolio optimization goals and capital allocation plans.
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