B2Gold buys AngloGold’s stake in Colombia project
Gold mining major AngloGold Ashanti is exiting the Gramalote project, in Colombia, with joint venture (JV) partner B2Gold buying its 50% interest in the project for up to $60-million.
The agreement follows a joint sales process by B2Gold and AngloGold for their combined interests in Gramalote that failed to yield an offer from a third party that was acceptable to either company.
The project was put up for sale after an optimized feasibility study did not deliver results that met either company’s investment threshold for development.
Gold mining major AngloGold Ashanti is exiting the Gramalote project, in Colombia, with joint venture (JV) partner B2Gold buying its 50% interest in the project for up to $60-million.
The agreement follows a joint sales process by B2Gold and AngloGold for their combined interests in Gramalote that failed to yield an offer from a third party that was acceptable to either company.
The project was put up for sale after an optimized feasibility study did not deliver results that met either company’s investment threshold for development.
Gold mining major AngloGold Ashanti is exiting the Gramalote project, in Colombia, with joint venture (JV) partner B2Gold buying its 50% interest in the project for up to $60-million.
The agreement follows a joint sales process by B2Gold and AngloGold for their combined interests in Gramalote that failed to yield an offer from a third party that was acceptable to either company.
The project was put up for sale after an optimized feasibility study did not deliver results that met either company’s investment threshold for development.
