The company will buy 47 million shares in First Uranium which are held by Village Main Reef.
Subject to receipt of regulatory approvals, AngloGold Ashanti may increase or decrease its stake in First Uranium over the coming years.
As part of the disposal agreement, Village has entered into a lock-up arrangement with AngloGold, for its remaining 5.7% stake in First Uranium.
The transaction will be notified to the competition authorities in South Africa.
First Uranium has two primary assets, both located in South Africa, the Ezulwini Mine in Gauteng and the Mine Waste Solutions tailings recovery operation located near AngloGold Ashanti’s existing Vaal River operations.
