Asante Gold Corporation has entered into an agreement with Resolute Mining to purchase 100% of their Bibiani gold mine in Ghana.

Asante Gold

The Ghanaian Minister for Lands and Natural Resources, Samuel A. Jinapor said: “I commend the recent approach of Resolute and Asante in their dealings with the Ministry for Lands and Natural Resources and I am pleased to support the transition of ownership of Bibiani to Asante.”

Resolute’s managing director and CEO, Stuart Gale commented: “Resolute has made a commitment to deliver sustainable and enduring value to shareholders and to the communities in which we operate.

“Resolute is proud of its contribution to Ghana and particularly proud to have the opportunity to transfer ownership in Bibiani to a highly regarded team with strong ties to Ghana. I would once again like to reiterate my sincere gratitude to the Minister for his leadership, sense of integrity, and collaboration with Resolute and Asante to achieve a mutually beneficial outcome for all parties. Similarly, Resolute would like to acknowledge the significant contribution made towards this outcome by the Ghana Minerals Commission. I am confident that Resolute’s positive legacy in Ghana, and the interests of all stakeholders in Bibiani, will be protected and enhanced under Asante’s ownership.”

Asante’s president and CEO, Douglas MacQuarrie commented: “Bibiani is a sleeping giant – essentially unmined and on care and maintenance since Ashanti Goldfields exited the project in 2006 when gold was just USD650 per ounce (oz). Our investment strategy is to achieve near-term economic returns on this very long-life asset.”