Kinross Gold Mulls Sale of Ghana Gold Mine Assets

SEATTLE (Scrap Monster): Kinross Gold Corporation announced that it has entered into an agreement with Asante Gold towards potential sale of the company’s 90% interest in the Chirano gold mine in Ghana. It must be noted that the remaining 10% interest is held by the government of Ghana. The announcement comes a day after the company selling its Russian assets to Highland Gold Mining group of companies and its affiliates.

According to Louie Diaz, Kinross Gold’s vice-president of corporate communications, Kinross Gold, the company has been receiving unsolicited proposals regarding the Chirano gold mine. Further to its decision to explore these proposals for the benefit of its shareholders, it has started confidential discussions with Asante Gold. However, there is no surety that the discussions will lead to a final deal between the two parties, he added.

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Meantime, Dave Anthony, CEO, Asante Gold hoped that it won’t take too long time to close the deal, although the discussions are only in early stages. The agreement is considered as a potential game changer for the company, after its acquisition of Bibiani gold mine, which it expects to come online in Q3 this year. The addition of Chirano would provide big production boost, he noted.

The Chirano mine, located immediately south of Bibiani gold mine, had produced 154,668 gold equivalent ounces in 2021.