Gramalote to go up for sale, says B2Gold
Joint venture (JV) partners B2Gold and AngloGold Ashanti will put up for sale the Gramalote project, in Colombia.
The JV has completed a comprehensive review of the alternatives relating to the gold project and has decided it will be in the best interest of all stakeholders to find a buyer, Vancouver-based B2Gold said on Tuesday.
B2Gold and AngloGold said in August that the $925-million project did not meet their investment thresholds for development, after the preliminary optimised feasibility study for the project failed to impress.
AngloGold Ashanti CEO Alberto Calderon has previously said that the disposal of Gramalote was one of AngloGold’s options, noting that the group preferred to focus its capital on the bigger assets.
B2Gold pointed out that the project continued to benefit from government support, as well as continuing support from local communities.
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