B2Gold to Acquire Gold Mine Assets in Zimbabwe

However, the deal hit the roadblock because of the rule of the country which makes its mandatory to sell the metal to central bank unit.

SEATTLE (Scrap Monster): Canadian miner B2Gold Corp. expressed interest in acquiring gold mines in Zimbabwe. This is part of the company’s plans to expand its footprints in the African continent. Reportedly, the company has been in talks with government officials in the country. In addition, it is holding negotiations with privately-owned gold mining companies.

According to Clive Johnson, Chief Executive Officer, B2Gold Corp, said that the company had made an attempt to purchase an idled gold mine in Zimbabwe two years ago. However, the deal hit the roadblock because of the rule of the country which makes its mandatory to sell the metal to central bank unit.

The renewed interest shown by the company is primarily on account of Zimbabwe’s recent call for fresh investment in its mining sector.

The company considers buying operating mining assets in Zimbabwe. It also looks at opportunities to enter into joint ventures and explore potentials for setting up a milling plant in the country. The miner is also looking at new opportunities in Finland and Uzbekistan. B2Gold seeks to build a new mine in Colombia in partnership with AngloGold Ashanti Ltd., the press release said.

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