Australia's Resolute Mining to sell Ghana mine to Asante Gold for $90 mln (updated)
05/08/2021 01:17
(Adds details on sale, background)
Aug 5 (Reuters) - Australian gold miner Resolute Mining Ltd
RSG.AX said on Thursday it would sell its Bibiani mine in
Ghana to Canada's Asante Gold Corp ASE.CD for $90 million.
The sale comes months after China's Chifeng Jilong Gold
Mining 600988.SS cancelled a deal to buy the mine, saying it
had not received timely information about the termination of a
mining lease. urn:newsml:reuters.com:*:nL1N2MC0PL
Resolute Mining shares rose 4.5% to A$0.58 in early trade.
The deal had been approved by Ghana's minister of lands and
natural resources and is expected to be completed in the next 10
days, Resolute Mining said in a statement. urn:newsml:reuters.com:*:nGLF95bkBT
The Australian miner, which had acquired Bibiani in 2014,
and also operates the Syama gold mine in Mali and the Mako gold
mine in Senegal, said it would use $30 million of the proceeds
to repay debt.
(Reporting by Tejaswi Marthi; Editing by Rashmi Aich)
((Tejaswi.Marthi@thomsonreuters.com;))