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Randgold builds Kibali Goldmines stake

I-Net Bridge | Thu, 17 Dec 2009 08:49
[miningmx.com] -- SHAREHOLDERS of gold miner Randgold Resources on Wednesday approved the transaction to acquire a further 20% interest in Kibali Goldmines.

At the end of October, Randgold announced that together with AngloGold Ashanti, it had entered into an agreement for the acquisition of a further 20% interest in Kibali Goldmines from L'Office des Mines d'Or de Kilo-Moto (Okimo) for an aggregate consideration of approximately $113.6m.

One of the conditions precedent to the completion of the acquisition was the approval by Randgold shareholders.

It said that 99.99% of those Randgold shareholders present and voting at extraordinary general meeting held Wednesday voted in favour of the deal.

Randgold and Kibali (Jersey) will now work with OKIMO to satisfy the remaining conditions precedent under the sale and purchase agreement with a view to closing the transaction before the end of the year, it concluded.


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