Kibali in the Democratic Republic of Congo
Canadian major Barrick Gold said on Thursday that it would not approve the mooted sale of Congolese parastatal Société Minière de Kilo-Moto’s (Sokimo’s) 10% interest in the Kibali gold mine to CSE-listed junior AJN Resources.
The major was responding to a recent press release issued by AJN Resources, which indicates that the company has entered into a memorandum of understanding with Sokimo to acquire several rights in the Democratic Republic of Congo, including its shareholding in Kibali Goldmines – the owner of the Kibali mine.
Sokimo was “contractually bound by Barrick and its joint venture (JV) partner AngloGold Ashanti not to sell or otherwise transfer its shares in Kibali Goldmines SA, the owner of the Kibali gold mine, without their approval. No such approval has been sought, nor will it be granted,” Barrick said in a statement.
Barrick and AngloGold each own 45% of Kibali, which produced a record 814 027 oz last year. Barrick is the operator of the JV and gained ownership of the mine through the acquisition of Randgold Resources in January 2019.