Mineral resources
Shanta Gold invests in Kenya, acquiring Acacia Exploration from Barrick

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.

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            ▪ 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.

http://www.jeuneafriquebusinessplus.com/en/802986/shanta-gold-invests-in-kenya-acquiring-acacia-exploration-from-barrick/

13/02/2020 at 17h48, by Valentin Grille

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.

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