Asante enters exclusivity agreement to buy Kinross’ Ghana assets

Pure gold exploration and development company Asante Gold has entered into an exclusivity agreement with Canada-based gold and silver mining company Kinross Gold to negotiate the potential purchase of all of its interests in Ghana, including its 90% interest in the Chirano gold mine.

Chirano is an openpit and underground mining operation in south-western Ghana, immediately south of the company’s Bibiani gold mine.

It is 90% owned by Kinross, with the government of Ghana holding a 10% carried interest.

Chirano was explored and developed in 1996 and began production in October 2005.

The Chirano mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao openpits and the Akwaaba and Paboase underground mines.