Asset sold Australian miner Resolute has signed a contract to sell its Bibiani gold mine in Ghana to Asante Gold Corporation.
“Asante has agreed to buy all of Resolute’s interest in Bibiani, through the purchase of 100% of the shares in Mensin Bibiani Pty Ltd., by pay-ing to Resolute total cash consideration of US$90 million,” Asante Gold Corporation said in a statement.
The agreement was approved by Ghana’s Minister of Lands and Natural Resources.
Resolute is an explorer, developer and operator of gold mines in Aus-tralia and Africa which have produced more than 8 million oz of gold to date.
“Resolute and Asante are committed to ensuring an orderly transition of ownership at Bibiani. Asante is dedicated to injecting the necessary cap-ital to achieve the rapid restart of Bibiani, which is not expected to result in any immediate changes to outstanding employment or contract rela-tionships,” according to the statement.