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Resolute to sell Bibiani gold mine in Ghana to Asante for $90m
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FTSE 100 Gains as Retailers, Miners, Oil Stocks Rise
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EXECUTIVE CHANGES: AB Dynamics founder retires; Resolute hires CFO
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Bibiani gold mine ghana
The Ghanaian government has restored the mining lease for the Bibiani gold mine, ASX- and LSE-listed Resolute Mining reported on Wednesday, however, the sale of the asset was now being questioned.
The company, in March this year, announced that it would seek legal advice after the Ghanaian Minerals Commission terminated the mining lease for the Bibiani gold mine, and ordered Resolute to cease all activities and operations at the mine site.
Resolute earlier this year struck a $105-million sales agreement with China’s Chifeng Jilong Gold Mining Co for the sale of the Bibiani mine, which Resolute acquired in 2004 and placed on care and maintenance shortly after.