Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Dear MM, I have question in relation to Resolute Mining. There has been news of an "agreement" between Resolute and Chifeng. Is there still a possibility that Resolute Mining will no longer have operations at the mine? Or has Resolute re-consolidated it's position? Kind regards Jack
Hi Jack,
It’s all government posturing at this stage, however right now it seems unlikely that the US$105m sale of Bibiani to Chifeng will occur. The Ghanaian Government is saying that they simply don’t recognise the current sale agreement, and any future agreement will need their consent. While the Government restored the Mining Lease (they had pulled it) they’ve put a bunch of conditions that Resolute need to satisfy. In any case, the sale seems off, and any future sale would be a renegotiation with Govt approval required. For now, the analysis I read implies strongly that the mine will be back with Resolute, at least for the foreseeable future.
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