Barrick sells Kenyan project to Shanta Gold for US$14.5 million

KENYA – Barrick Gold, a mining company, has sold its project in southwestern Kenya, held by its former subsidiary Acacia Mining, to Tanzania-focused Shanta Gold in a US$14.5 million deal. The cash and shares transaction give Shanta its first asset outside Tanzania, which Acacia began exploring in 2010 before being bought out by Barrick. Acacia and previous owners had spent about US$55m in exploration, including 221,000 metres of drilling across the project since 2010. The West Kenya licence holds about 1.18 million ounces of gold with a grade of 12.6…

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