Gold miner Resolute Resources on Wednesday announced the sale of its Ravenswood gold mine, in Australia’s Queensland, which leaves the company with all its mines in Africa.
A consortium, consisting of private equity manager EMR Capital and energy and mining company Golden Energy and Resources, would pay A$300-million for the project. “We have delivered on our objective of ensuring a new long-life future for Ravenswood under a world-class operator and can now focus our attention and energy on our African portfolio and the abundant opportunities our experience provides for further growth and value creation," said MD and CEO John Welborn.