AngloGold’s $820 Million Sale of its U.S. Cripple Creek & Victor Mine to Newmont
June 12, 2015
On June 8, 2015, AngloGold Ashanti Limited announced that it has agreed to sell its Cripple Creek & Victor mine in the United States to Newmont Mining Corporation for $820 million in cash, plus a net smelter return royalty. Cravath represented AngloGold Ashanti in connection with this transaction, which is subject to customary closing conditions and is expected to close in August 2015.
The Cravath team was led by partner Richard Hall and included associate Lee Johnston on M&A matters; partner Eric W. Hilfers, senior attorney Lawrence A. Pasini and associate Amy C. Benford on executive compensation and benefits matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Matthew Morreale on environmental matters; partner Christine A. Varney and associate Jesse M. Weiss on antitrust matters; and practice area attorney Gary R. Eisenman on real estate matters. Maria Rita Sobral also worked on M&A matters.
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LL.M., 1988, Harvard Law School
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LL.B., 1986, University of Melbournewith Honors
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B.Com., 1984, University of Melbournewith Honors
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
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J.D., 1990, University of California, Berkeley, School of Law
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B.S., 1983, University of California, Davissumma cum laude
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
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J.D., 1986, Georgetown University Law Center
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M.P.A., 1982, Syracuse University
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B.A., 1977, State University of New York, Albany
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Deals & Cases
July 17, 2025
AngloGold Ashanti’s Acquisition of Augusta Gold
On July 16, 2025, AngloGold Ashanti plc (“AngloGold Ashanti”), an independent, global gold mining company, announced that certain of its subsidiaries have entered into a definitive agreement with Augusta Gold Corp. (“Augusta Gold”) to acquire all issued and outstanding shares of common stock of Augusta Gold at a price of C$1.70 per share of common stock in cash. The price implies an enterprise value for Augusta Gold of approximately C$197 million (approximately $143 million). Cravath is representing AngloGold Ashanti as U.S. counsel in connection with the transaction.
