• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Mining

Bibiani gold mine sold to Chinese group for $105 million

5 years ago
in Mining
1 min read
0 0
0
287
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Australia’s Resolute Mining has agreed to sell its Bibiani gold mine in Ghana to China’s Chifeng Jilong Gold Mining for $105 million cash.

The Western Australia-based miner has received a $5 million deposit upfront, with the remainder expected upon completion of the transaction, which is expected to be in March 2021.

The company acquired Bibiani in 2004 but placed the mine on care and maintenance shortly after to allow exploration activities to develop the asset into a large-scale operation.

Resolute changed tune in January this year, launching a review of the mine to determine whether to keep it or sell it to a company “in better place” to keep the gold mine running.

Chifeng noted on Tuesday it would immediately invest the required capital and provide the necessary expertise to recommission Bibiani as an operating gold mine in the shortest possible time frame.

“I am confident that Resolute’s positive legacy in Ghana, and the interests of all stakeholders in Bibiani, will be protected and enhanced under Chifeng’s ownership,” Resolute’s interim chief executive officer, Stuart Gale, said in the statement.

Resolute sold in January its Ravenswood gold mine in Queensland – the only Australian asset it had – to private equity firm EMR Capital Management.

RelatedPosts

Gold Fields Boosts H1 2025 Earnings, Eyes Reinvestment in Tarkwa as Damang Transition Looms

Anglo Suffers Setback as Peabody Walks Away From $3.8bn Coal Deal

GoldBod Begins Enforcement of Mandatory Receipt Issuance in Gold Trade

The $207 million deal left the company with three mines in Africa – Syama in Mali; Mako in Senegal; and Bibiani.

Bibiani’s sale would reduce Resolute’s portfolio to only two assets and is subject to a number of conditions which include the approval of the Australian Foreign Investment Review Board as well as Chinese and Ghanaian government authorizations.  

Source: mining.com
Via: norvanreports
Tags: $105 millionBibiani gold mineChifeng Jilong Gold MiningghanaResolute Mining Company
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.