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Gold Fields, Asanko get Ghana government OK for JV mining project

Jun. 22, 2018 2:33 PM ETGold Fields Limited (GFI) StockGFI, GAUBy: Carl Surran, SA News Editor3 Comments
  • Gold Fields (GFI -0.6%) and Asanko Gold (AKG) say Ghana authorities have approved their $185M partnership aimed at developing one of the country’s newest gold mines.
  • The government’s regulatory approval was the principal condition to closing the JV, which was announced in March.
  • The mine is forecast to produce 253K oz./year during 2019-23 at all-in sustaining costs of $860/oz.; AKG and GFI each own 45% stakes while Ghana's government hold a 10% interest.

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