AngloGold Ashanti to pay $150 million for Coeur Mining's Nevada gold projects

JOHANNESBURG (Reuters) - South Africa-listed gold miner AngloGold Ashanti has agreed to pay $150 million in cash to acquire a subsidiary of Coeur Mining with mining concessions in Nevada adjacent to its own, the companies said on Monday.

The unit, Coeur Sterling Inc, holds properties in Nevada estimated to hold 914,000 ounces of gold. AngloGold Ashanti agreed to pay Coeur an extra $50 million if further exploration results in a mineral resource greater than 3.5 million ounces.

"The addition of these properties consolidates our ownership position in one of North America's most promising new gold districts," said AngloGold Ashanti Chief Executive Alberto Calderon.

AngloGold Ashanti shares were down 3% by 1119 GMT.

(Reporting by Helen Reid; Editing by Jan Harvey)