Massawa refractory ore (Barrick): Teranga Gold is to invest $80 million in addition to the $380 million purchase price; David Mimran injects $45 million

Massawa refractory ore (Barrick): Teranga Gold is to invest $80 million in addition to the $380 million purchase price; David Mimran injects $45 million

The $80m investment is needed to process refractory ore at the Massawa gold mining operation. It comes in addition to the $380m purchase price of the Massawa deposit. For his part, David Mimran will contribute to maintain his 21.2% stake in the shareholding.

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            ▪ Massawa refractory ore (Barrick): Teranga Gold is to invest $80 million in addition to the $380 million purchase price; David Mimran injects $45 million

▪ The $80m investment is needed to process refractory ore at the Massawa gold mining operation. It comes in addition to the $380m purchase price of the Massawa deposit. For his part, David Mimran will contribute to maintain his 21.2% stake in the shareholding.

https://www.africabusinessplus.com/en/803245/massawa-barrick-teranga-gold-doit-investir-80-millions-en-plus-des-380-millions-de-prix-dachat-david-mimran-injecte-45-millions/

According to information confirmed to Jeune Afrique Business+ by Abdoul Aziz Sy, CEO of Sabodala and regional director in charge of corporate affairs at Teranga, some $80m are needed to upgrade Sabodala’s processing plant in order to extract gold from Massawa ore.

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