Deals

ChinaDealsGhanaGoldUncategorized

China’s Chifeng Jilong walks away from deal to buy Ghana gold mine

Adds detail, background, attempt to seek comment from Resolute April 19 (Reuters) - China's Chifeng Jilong Gold Mining 600988.SS on Monday cancelled an agreement to buy the Bibiani gold mine in Ghana, saying it had not received timely information from the seller about the termination of the mining lease. Australia-based Resolute Mining RSG.AX agreed to sell Bibiani to Chifeng Jilong for around $105 million in December, apparently extending a flurry of Chinese M&A in the gold mining sector, only to announce last month its lease had been terminated by the Ghanaian government. The lease was restored...
Burkina FasoDealsGold

THOR ACQUIRES 100% INTEREST IN CENTRAL HOUNDE PROJECT BURKINA FASO

Thor Explorations Ltd. (TSX VENTURE: THX) (“Thor” or the “Company”) is pleased to announce that it has signed an agreement with Barrick Gold Corporation (“Barrick”), which terminates the 2015 Earn-In Agreement between Thor and Acacia Mining PLC (Acacia Mining PLC has subsequently been acquired by Barrick), on the Central Houndé Project (the “Project”) in south-western Burkina Faso (the “Agreement”). Following the signing of the Agreement, Thor has acquired Barrick’s 51% ownership of the Project in exchange for a 1% Net Smelter Royalty. Thor now holds 100% of the Project. The...
DealsGoldM&ASouth Africa

South Africa’s Anglogold plays down merger prospects amid deal talk

TORONTO/JOHANNESBURG — South Africa’s Anglogold Ashanti does not need to pursue mergers and won’t add scale for its own sake, its interim chief executive said on Wednesday, tamping speculation it could take part in further consolidation of the sector. https://c5x8i7c7.ssl.hwcdn.net/vplayer-parallel/20210209_0916/ima_html5/minimal.mp4 Interim CEO Christine Ramon declined to comment directly when asked about a potential tie-up with Gold Fields during a roundtable at the Mining Indaba Virtual Investment Programme alongside Froneman and Barrick Gold head Mark Bristow. Consolidation can bring benefits including operational synergies, but can also add complexity and costs, she...
DealsNew CaledoniaNicket

Brazil’s Vale sells New Caledonia assets to Trafigura

RIO DE JANEIRO, March 31 (Reuters) - Brazilian miner Vale SA has concluded the sale of its nickel mining assets on the Pacific island of New Caledonia to a consortium including global commodity trader Trafigura, the company said in a Wednesday securities filing. The exact terms were not disclosed, but Vale said that $1.1 billion will be invested in the New Caledonia assets, with $555 million coming from its subsidiary Vale Canada Ltd. Vale will have a supply contract to off-take part of the nickel produced, the company said. (Reporting...