Gold Fields Limited has announced the divestment of its 45% shareholding in the Asanko gold mine in Ghana to TSX-listed joint venture partner Galiano Gold for a total consideration of $170m.
Gold Fields will also receive a 1% net smelter royalty on future production from the Nkran deposit, the main deposit at the mine.
The Asanko mine is currently owned 45% each by Gold Fields and Galiano Gold, with Galiano managing the mine. The Government of Ghana holds the remaining 10%.
The transaction will be settled by Galiano to Gold Fields through a combination of upfront, deferred and contingent consideration as follows:
Source: Joy Business News
Read more: https://www.myjoyonline.com/gold-fields-sells-its-45-shareholding-in-asanko-gold/
