AngloGold Ashanti Ltd has entered into an agreement with B2Gold at its Gramalote project in Colombia that will see its Canadian joint venture partner raise its stake and assume management of the project.
AngloGold Ashanti says, as part of the agreement, B2Gold will fund investment and exploration to the value of $13.9 million at the project in 2020 in return for taking its stake up to 50%, and will assume management of the project in January 2020.
B2Gold currently owns a 48.3% stake with AngloGold, while Ashanti, which also has operations in South Africa, is holding the remaining 51.7%.
“B2Gold has proven itself a strong, experienced player in exploration, feasibility studies and project execution, which makes it an excellent partner for us,” says AngloGold Ashanti CEO Kelvin Dushnisky.
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