JOHANNESBURG (miningweekly.com) – JSE- and TSX-listed First Uranium on Tuesday reported that the South African Reserve Bank has approved the gold-streaming transaction with Vancouver-based Gold Wheaton (GW).

In November, First Uranium announced that Gold Wheaton would purchase 7% of the estimated 5,8-million ounces of life-of-mine gold, produced from First Uranium’s Ezulwini mine, in South Africa, for $50-million.

Last year, the two companies signed a similar deal for gold produced at First Uranium’s Mine Waste Solutions, where Gold Wheaton will buy 25% of the gold produced.

Following the approval from the Reserve Bank, the transaction with Gold Wheaton was expected to close during early December.

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.