AngloGold Ashanti's Morro Velho vs MarudiMorro Velho, also called AngloGold Ashanti Brasil Minerao, In 1975 the South Africa based Anglo American Corporation, a precursor to today's AshantiGold, became owners of the operations. These days Morro Velhos is the world's oldest continuously worked mine. Some of the mines' works are over 3,000 meters (9,800 ft) deep underground. Although Morro Velho's main production is gold, silver, arsenic, and other minerals are also extracted at the mining complex.
Despite closing of the Minha Velha and Engenho D'gua mines in 2003 and 2004, gold production has increased over the past three years, with 240,000 ounces (6,800 kilograms) of gold produced in 2004 at an average recovered ore grade of 0.222 ounces per ton (7.62 grams per metric ton). Cash costs of production totalled $133 per ounce, with the mine realizing adjusted operating profit of $45 million.
In 2009, the mine employed close to 3,000 people, 2,250 of those being permanent staff.
Production
Recent production figures of the mine were:
| Year | Production (ounces) | Grade | Cost per ounce |
| 2003 [7] | 228,000 | 6.84 g/t | US$ 141 |
| 2004 [7] | 240,000 | 7.85 g/t | US$ 133 |
| 2005 [7] | 250,000 | 7.27 g/t | US$ 169 |
| 2006 [8] | 242,000 | 7.60 g/t | US$ 195 |
| 2007 [6] | 317,000 | 7.48 g/t | US$ 233 |
| 2008 [6] | 320,000 | 7.62 g/t | US$ 300 |
| 2009 [6] | 329,000 | 7.02 g/t | US$ 339 |
| 2010 |
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