Canada’s Kinross Gold has announced it has entered into a sale agreement with Asante Gold to sell the company’s 90 per-cent stake in the Chirano mine in Ghana for a total of $225 million in cash and shares.
“The transaction is expected to be completed on or around May 31, 2022. The Government of Ghana has issued a 'letter of no objection' regarding the change of control,” the Canadian miner said in a state-ment.
“Chirano represented approximately 3% of Kinross’ total mineral re-serve estimates as of year-end 2021. With the expected close of the transaction, Kinross will have no assets or interests in Ghana,” ac-cording to Kinross Gold.
Ghana’s government holds a 10 percent carried interest in Chirano.
In addition to Canada and Ghana, Kinross Gold operates mines and projects in the US, Brazil, Russia, Mauritania, and Chile.