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.
03/03/2020 at 17h26, by Africa Business+
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.
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