{"id":1166808,"date":"2020-02-20T11:10:48","date_gmt":"2020-02-20T17:10:48","guid":{"rendered":"https:\/\/www.mining.com\/?p=1014504"},"modified":"2020-02-20T11:10:48","modified_gmt":"2020-02-20T17:10:48","slug":"barrick-opposes-sokimos-sale-of-interest-in-kibali-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1166808","title":{"rendered":"Barrick opposes Sokimo\u2019s sale of interest in Kibali mine"},"content":{"rendered":"<p>Barrick Gold (TSX: ABX) (NYSE: GOLD) <a href=\"https:\/\/www.barrick.com\/English\/news\/news-details\/2020\/Barrick-Will-Not-Approve-Mooted-Sale-of-SOKIMOs-Stake-in-Kibali-c32868dbc\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said on Thursday<\/a> it would not approve Soci\u00e9t\u00e9 Mini\u00e8re de Kilo-Moto\u2019s (Sokimo) intended sale of its 10% interest in Kibali gold mine in the Democratic Republic of Congo.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Sokimo can\u2019t sell nor transfer its shares in the mine without the approval of both Barrick and its JV partner AngloGold.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The world\u2019s second largest gold miner\u2019s comments come as Canadian junior AJN Resources <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/img1.wsimg.com\/blobby\/go\/5a49fbec-1991-48cc-bcb2-3fda66468813\/downloads\/February%206%2C%202020%20-%20Signed%20MOU%20with%20SOKIMO..pdf?ver=1581388437372\" >said earlier this month<\/a> it had entered into a memorandum of understanding with Sokimo to acquire several of its rights in DRC. Those included the state miner\u2019s shareholding in Kibali Goldmines \u2013 the owner of Kibali mine.<\/p>\n<p>Barrick noted that Sokimo was contractually bound to the company and its joint venture partner, AngloGold Ashanti. This means that it can\u2019t sell nor transfer its shares in Kibali Goldmines without their approval. &nbsp;<\/p>\n<p>\u201cNo such approval has been sought, nor will it be granted,\u201d The Toronto-based miner <a href=\"https:\/\/www.globenewswire.com\/news-release\/2020\/02\/20\/1988044\/0\/en\/Barrick-Will-Not-Approve-Mooted-Sale-of-SOKIMO-s-Stake-in-Kibali.html\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in the statement<\/a>.<\/p>\n<p>Last year, Kibali beat production guidance of 750,000 ounces of gold by a substantial margin, delivering 814,027 ounces in what <a href=\"https:\/\/www.barrick.com\/English\/news\/news-details\/2020\/Kibali-Soars-Past-Guidance-to-Post-Another-Record-Year\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Barrick called \u201canother record year\u201d<\/a>.<\/p>\n<p>The Toronto-based miner, which has a 45% stake in Kibali, is the operator of the JV with AngloGold and gained ownership of the mine after <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/new-era-barrick-gold-begins\/\" >acquiring Randgold Resources in January<\/a> last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sokimo can&rsquo;t sell nor transfer its shares in the mine without the approval of both Barrick and its JV partner AngloGold.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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