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Asante sets sights on Kinross' Ghana assets 

West Africa-focused Asante Gold is in exclusive negotiations with Kinross about the purchase of all the senior gold producer’s interests in Ghana, including its 90% stake in the Chirano gold mine. 
Asante sets sights on Kinross' Ghana assets  Asante sets sights on Kinross' Ghana assets  Asante sets sights on Kinross' Ghana assets  Asante sets sights on Kinross' Ghana assets  Asante sets sights on Kinross' Ghana assets 

Nathan Richardson

Chirano is an open-pit and underground operation with a mill that has a capacity of about 3.5 million tonnes per year. 

The mine - in which the government of Ghana holds the remaining 10% interest - has an expected mine life to 2026, saw 2021 gold-equivalent production of 154,668 ounces, and cost of sales of US$1,369/oz, data from Kinross shows. 

Asante noted that the mine was "immediately" south of the past-producing Bibiani mine, which the company acquired from Australian Securities Exchange-listed Resolute Mining in August last year in a US$90 million deal.

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

Kinross is also going through the process of selling its Russian assets. 

Asante's share price closed at a record high of C$2 (US$1.59) on April 7, which gave the company a market capitalisation of C$628.25 million. 

Kinross' share price on April 7 was C$7.34. The company had a market capitalisation of C$9.51 billion.