Massawa refractory ore (Barrick): Teranga Gold is to invest $80 million in addition to the $380 million purchase price; David Mimran injects $45 million
The $80m investment is needed to process refractory ore at the Massawa gold mining operation. It comes in addition to the $380m purchase price of the Massawa deposit. For his part, David Mimran will contribute to maintain his 21.2% stake in the shareholding.
Someone shares this article with you
▪ Massawa refractory ore (Barrick): Teranga Gold is to invest $80 million in addition to the $380 million purchase price; David Mimran injects $45 million
▪ The $80m investment is needed to process refractory ore at the Massawa gold mining operation. It comes in addition to the $380m purchase price of the Massawa deposit. For his part, David Mimran will contribute to maintain his 21.2% stake in the shareholding.
▪ https://www.africabusinessplus.com/en/803245/massawa-barrick-teranga-gold-doit-investir-80-millions-en-plus-des-380-millions-de-prix-dachat-david-mimran-injecte-45-millions/
According to information confirmed to Jeune Afrique Business+ by Abdoul Aziz Sy, CEO of Sabodala and regional director in charge of corporate affairs at Teranga, some $80m are needed to upgrade Sabodala’s processing plant in order to extract gold from Massawa ore.
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
15/02/2021 at 18h08, by Africa Business+, updated 16/02/2021
Barrick JV: Loncor boosts its fundraising to increase gold reserves in DR Congo
The Canadian gold exploration company has a joint venture partnership with Barrick Gold and Resolute...
Mines
18/11/2020 at 18h17, by Africa Business+, updated 22/11/2020
David Mimran and Mark Bristow’s letter to Teranga to secure Endeavour merger
Jeune Afrique Business+, which has had access to a copy of the correspondence, brings you the inside...
Mines
16/06/2020 at 17h43, by Africa Business+, updated 22/06/2020
The team behind Barrick’s Africa activities
Since Canada’s Barrick merged with the very African Randgold on 1 January 2019, South Africa’s Mark...
Mines
05/03/2020 at 16h26, by Aurelie Benoit, updated 06/03/2020
Macky Sall’s regional mining hub seeking consultants
With the backing of the African Development Bank, Dakar is seeking to establish itself as a key player...
Mines
12/12/2019 at 15h28, by Aurelie Benoit
Advisers surround Teranga Gold and Barrick for the purchase of the Massawa gold project in Senegal
The gold mining firm is to pay almost $400m to fellow Canadian group Barrick and its joint venture partner,...
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.