Shanta Gold invests in Kenya, acquiring Acacia Exploration from Barrick
The junior oil and gas company based in Tanzania acquired a mine discovered by the Canadian mining company, leveraging an advantageous cost structure. It is looking to expand around Lake Victoria.
Someone shares this article with you
▪ Shanta Gold invests in Kenya, acquiring Acacia Exploration from Barrick
▪ The junior oil and gas company based in Tanzania acquired a mine discovered by the Canadian mining company, leveraging an advantageous cost structure. It is looking to expand around Lake Victoria.
▪ https://www.africabusinessplus.com/en/802986/shanta-gold-invests-in-kenya-acquiring-acacia-exploration-from-barrick/
Headed by Eric Zurrin, its CEO, Shanta Gold announced its acquisition of all outstanding shares of Acacia Exploration, a subsidiary of Barrick. It will gain access to licences previously held by AfriOre Ltd for a gold mine called West Kenya. Barrick will receive $7 million in cash in addition to $7.5 million in Shanta shares. With a 6.4% stake, Barrick will become the fifth largest shareholder in the Tanzanian company.
This article is for subscribers only. To read more, subscribe with a special offer.
You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.
Recommended articles
Mines
21/02/2020 at 22h52, by Gaëlle Arenson
DRC: SOKIMO wants to list its stake in the Kibali mine operated by Barrick
Klaus Eckhof devised the proposed transaction via AJN Resources. In the early 2000s, the geologist founded...
Advisory
20/02/2020 at 07h46, by Gaëlle Arenson
Poupak Bahamin leaves Norton Rose for Barrick
The information was disclosed in Barrick’s latest quarterly report published last week.
Any questions ? contact us
Please get in touch with the Africa Business+ team if you require any further information.
Email us : customer.care@africabusinessplus.com
Add AB+ to your home screen
1. Click on 
at the bottom of your screen.
2. Click on 
to add AB+ on the home screen.
3. Enter the name of the shortcut and confirm.