AngloGold Ashanti (NYSE: AU) says a new technical brief for its Arthur project in Nevada has confirmed its potential to become a Tier 1 gold deposit located within the historic Beatty mining district.
On Thursday, the gold mining company announced the completion of the initial feasibility study for the project, including its components Gold reserve for the first time A total of 4.9 million ounces. From two deposits. This could support an initial mine life of nine years with an average annual gold production of 500,000 ounces.
The report highlighted that more than 95% of the mineralization is hosted in oxide, making it amenable to traditional bulk mining and processing methods.
Nevada Green Assets
The Arthur project is a key part of AngloGold’s strategy to create a “world-class, long-lived” production hub in the US, centered around a new portfolio of assets in Nevada that it has built in recent years. In July, the company expanded its holdings in the gold-rich country with… C$152 million deal to buy Augusta Gold.
The Bayti region, as the company noted, represents a focal point in that strategy due to its mining heritage and the quality of its assets. The area has a long history of mining, but activities were halted for decades until 2010. AngloGold moved early into areas that had seen little contemporary exploration, and in 2018 made the Silicon and Merlin discoveries that make up the Arthur Project.
“The Arthur Gould project is the cornerstone of our strategy to build a world-class long-life production platform in the United States,” CEO Alberto Calderon said in a press release. “With average annual production of approximately 500,000 ounces in its initial phase, and with an expectation to far exceed that in some years, the project is achieving immediate scale in a leading mining region.”
The reserve estimates, reported as of the end of 2025, used a gold price assumption of $1,950 per ounce. As such, the project shows positive leverage amid rising gold prices, AngloGold said, estimating that its net present value after tax (at a 5% discount) could rise to $1.7 billion at $2,715 per ounce, then double to $3.4 billion at $3,500 per ounce.
The pre-feasibility study also highlighted what the company considers a “structurally competitive cost profile”, with sustainable costs estimated at US$954 per ounce. The initial capital cost is estimated at $3.6 billion.
With the completion of the PFS, AngloGold said the project will move to the feasibility study stage in June. She added that basic environmental, hydrological and community studies at the feasibility level are currently underway.
AngloGold shares rose as much as 5% to $89.84 a share in New York on Friday, giving it a market value of about $44 billion.
