Precious Metals
Resolute Mining Acquires Interests in 2 Ivory Coast Gold Projects
South Africa-based mining company AngloGold Ashanti has signed an agreement to sell its Doropo and Archean-Birimian Contact (ABC) gold projects in Ivory Coast to Australian firm Resolute Mining.
With the acquisition, Resolute Mining plans to advance Doropo through the permitting and Front-End Engineering and Design stages, aiming for a Final Investment Decision by the end of 2025. The project is expected to produce 167,000 ounces per year over a 10-year mine life. Meanwhile, the ABC Project is an early-stage greenfield exploration asset with three permits and an estimated 1.6 million ounces of inferred mineral resources.
According to Alberto Calderon, CEO of AngloGold Ashanti, the transaction enables the firm to maintain disciplined capital allocation, optimize its existing portfolio and diversify its West African assets. As part of the deal, AngloGold Ashanti will acquire Resolute Mining’s brownfield Mansala Gold project in Guinea.
Related Articles
Investigation uncovers fraudulent identity documen...
10 Sep, 2024 08:08
The Top Five Gold-Producing Countries in Africa in...
10 Sep, 2024 08:46
AngloGold notes ‘enormous geological potential’ in...
10 Sep, 2024 09:29
Awalé Resources expands BBM gold zone at Odienné p...
10 Sep, 2024 11:38
Proposed amendment: Gold mines to be subject to th...
10 Sep, 2024 12:39
Pan African Resources Annual Result Improves; Expe...
12 Sep, 2024 07:42
African countries are joining the sovereign gold-b...
12 Sep, 2024 08:07
Platinum Group Metals Ltd. Announces Positive Inde...
16 Sep, 2024 09:11
At least 20 likely dead in violence near Papua New...
16 Sep, 2024 10:37