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In the news
Galiano Gold has finalised the acquisition of a 45% interest in the Asanko Gold Mine in Ghana, consolidating its position as a key player in West Africa’s gold mining industry.
The deal, announced in December last year, saw the company buying its joint venture (JV) partner Gold Fields’ 45% stake in the Asanko mine for $170m.
Each of the two companies held a 45% stake in the mine through their respective subsidiaries. The Government of Ghana owns the balance, a 10% interest.
As per the agreed terms, Galiano issued 28.5 million common shares to Gold Fields, which now holds a 19.9% stake in Galiano.
Additionally, Gold Fields received $65m in cash and will benefit from future deferred and contingent payments up to $85m.
