[miningmx.com] – FORMER JPMorgan Chase banker Lloyd Pengilly’s QKR Corporation has sold a 7.5% stake in its Navachab gold mine in Namibia to the country’s mining investment company, Epangelo Mining, said Bloomberg News.
“The deal has been finalised; we are officially one of the shareholders of Navachab,’ Epangelo MD, Eliphas Hawala, told the newswire service.
QKR bought Navachab, an open-pit mine that’s about 170km northwest of Windhoek, for $110m from AngloGold Ashanti.
QKR, funded by Qatar’s sovereign wealth fund and Poland’s richest man Jan Kulczyk, is seeking gold, copper, zinc, base metals and coal assets, said Bloomberg News.
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