{"id":1168773,"date":"2020-03-02T05:51:47","date_gmt":"2020-03-02T11:51:47","guid":{"rendered":"https:\/\/www.mining.com\/?p=1015692"},"modified":"2020-03-02T05:51:47","modified_gmt":"2020-03-02T11:51:47","slug":"ajn-yields-to-barricks-pressure-wont-buy-into-kibali-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1168773","title":{"rendered":"AJN yields to Barrick\u2019s pressure; won\u2019t buy into Kibali mine"},"content":{"rendered":"<p>Canadian junior AJN Resources (TSX-V: AJN) has <a href=\"https:\/\/www.newsfilecorp.com\/release\/52994\/AJN-Resources-Inc.-Decides-Not-to-Proceed-with-Proposed-Acquisition-of-Kibali-Interest\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">dropped plans to acquire 10% of Kibali gold mine<\/a> in the Democratic Republic of Congo from state-owned Soci\u00e9t\u00e9 Mini\u00e8re de Kilo-Moto (SOKIMO), after facing stern opposition from Barrick Gold (TSX: ABX) (NYSE: GOLD), the mine\u2019s the operator.<\/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, which each own 45% of Kibali, said SOKIMO <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/barrick-urges-ajn-to-drop-plans-to-buy-interest-in-kibali-mine\/\" >had not consulted nor informed them<\/a> about the transaction even though it\u2019s contractually bound to&nbsp;do so.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Canadian junior is continuing due diligence on other projects it plans to acquire from SOKIMO,&nbsp;including 30% stakes in Zani-Kodo, Nizi and Kibali South.<\/p>\n<\/blockquote>\n<\/figure>\n<p>Las week, Barrick <a href=\"https:\/\/www.mining.com\/barrick-urges-ajn-to-drop-plans-to-buy-interest-in-kibali-mine\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">sent AJN a cease-and-desist notice<\/a> to block the planned purchase of the interest in Congo&#8217;s biggest gold mine.&nbsp;<\/p>\n<p>&#8220;As a result of its due<br \/>\ndiligence and further information received, will not proceed with its proposed<br \/>\nacquisition,&#8221; AJL said in a release late on Sunday.<\/p>\n<p>The explorer noted it was<br \/>\ncontinuing due diligence on other projects it plans to acquire from SOKIMO,<br \/>\nnamely 30% stakes in Zani-Kodo, Nizi, and Kibali South, and 35% stakes in Giro Goldfields<br \/>\nand Wanga (Tendao).<\/p>\n<p>Already one of the world\u2019s most<br \/>\nhighly automated underground gold mines, Kibali continues its technological<br \/>\nadvance with the introduction of truck and drill training simulators and the<br \/>\nintegration of systems for staff safety tracking and ventilation demand<br \/>\ncontrol.<\/p>\n<p>The simulators,&nbsp;<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\">Barrick said in January<\/a>, will also be used to train<br \/>\noperators at the company\u2019s Tanzania mines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian junior won&#8217;t proceed with a plan to purchase a 10% stake in Congo&#8217;s biggest gold mine<\/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":"default","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":"","ast-disable-related-posts":"","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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