{"id":1167974,"date":"2020-02-26T09:01:47","date_gmt":"2020-02-26T15:01:47","guid":{"rendered":"https:\/\/www.mining.com\/?p=1015219"},"modified":"2020-02-26T09:01:47","modified_gmt":"2020-02-26T15:01:47","slug":"barrick-urges-ajn-to-drop-plans-to-buy-interest-in-kibali-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1167974","title":{"rendered":"Barrick urges AJN to drop plans to buy interest in Kibali mine"},"content":{"rendered":"<p>Barrick Gold (TSX: ABX) (NYSE: GOLD)&nbsp;is formally asking<br \/>\nCanadian junior AJN Resources&nbsp;to give up plans to acquire a 10% interest<br \/>\nin its 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<p>The world\u2019s second-largest gold miner and AngloGold Ashanti,<br \/>\nwhich each own 45% of the mine, said they had not been consulted about the transaction<br \/>\neven though the stake&#8217;s owner Soci\u00e9t\u00e9 Mini\u00e8re de Kilo-Moto (SOKIMO) is not<br \/>\nallowed to transfer or sell its Kibali shares without their approval.<\/p>\n<p>The two partners said the announced sale, <a href=\"https:\/\/www.mining.com\/barrick-opposes-sokimos-sale-of-interest-in-kibali-mine\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">announced earlier this month<\/a>, undervalues the asset, which last year beat production guidance of 750,000 ounces of gold by a substantial margin, delivering 814,027 ounces.<\/p>\n<p>\u201cBarrick won&#8217;t support the sale for reasons of valuation as<br \/>\nwell as process,\u201d chief executive, Mark Bristow, told Reuters on Wednesday.<\/p>\n<p>Already one of the world\u2019s most highly automated underground<br \/>\ngold mines, Kibali continues its technological advance with the introduction of<br \/>\ntruck and drill training simulators and the integration of systems for staff<br \/>\nsafety tracking and ventilation demand control.<\/p>\n<p>The simulators,&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.barrick.com\/English\/news\/news-details\/2020\/Kibali-Soars-Past-Guidance-to-Post-Another-Record-Year\/default.aspx\" >Barrick said in January<\/a>, will also be used to train operators at the company\u2019s Tanzanian mines.<\/p>\n<p><em>(With files from Reuters)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world&rsquo;s second-largest gold miner has issued cease and desist notice to the buyer, Canadian junior AJN Resources.<\/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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