South Africa's Gold Fields to form Ghana joint venture with Canada's Asanko

Galiano Gold

29/03/2018 09:13

JOHANNESBURG, March 29 (Reuters) - South Africa's Gold
Fields  GFIJ.J  said it will buy a 50 percent stake in Asanko
Gold Inc's  AKG.TO  Ghana subsidiary and take a stake in the
Canadian miner in a $202.6 million deal.
    Gold Fields said in a statement on Thursday that as well as
acquiring half of Asanko Gold Ghana's 90 percent interest in the
Asanko Gold Mine, its Ghana subsidiary will also acquire
associated properties and exploration rights in the African
country.
    The deal includes an upfront payment of $165 million on
closure of the transaction and a deferred payment of $20
million.
    Gold Fields' subsidiary will also take a 9.9 percent stake
in Toronto-listed Asanko for $17.6 million in a share placement.

 (Reporting by Nqobile Dludla; Editing by Susan Fenton)
 ((nqobile.dludla@thomsonreuters.com; +27117753126; Reuters
Messaging: nqobile.dludla.thomsonreuters.com@reuters.net))