Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

AngloGold Ashanti, B2Gold in deal over Colombia project

Published 2019-09-16, 06:05 a/m
Updated 2019-09-16, 06:10 a/m
© Reuters.  AngloGold Ashanti, B2Gold in deal over Colombia project

© Reuters. AngloGold Ashanti, B2Gold in deal over Colombia project

JOHANNESBURG, Sept 16 (Reuters) - AngloGold Ashanti Ltd ANGJ.J has entered into an agreement with B2Gold BTO.TO at its Gramalote project in Colombia that will see its Canadian joint venture partner raise its stake and assume management of the project.

AngloGold Ashanti said as part of the agreement B2Gold will fund investment and exploration to the value of $13.9 million at the project next year in return for taking its stake up to 50% and will assume management of the project in January 2020.

B2Gold currently owns a 48.3% stake with AngloGold Ashanti, which also has operations in South Africa, holding the remaining 51.7%.

"B2Gold has proven itself a strong, experienced player in exploration, feasibility studies and project execution, which makes it an excellent partner for us," said AngloGold Ashanti CEO Kelvin Dushnisky.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.