AngloGold Ashanti waives pre-emptive right over stake in Tropicana Gold Mine

AngloGold discovered Tropicana in 2005, 330 km east-northeast of Kalgoorlie. (Image courtesy of Tropicana JV.)

AngloGold Ashanti said on Thursday it has decided to waive its pre-emptive right over the 30% stake in Australia’s Tropicana Gold Mine, paving the way for Regis Resources to acquire the stake from current joint venture partner IGO Ltd.

Last Tuesday, IGO said it had entered into a binding pact with Regis for the sale of its interest in the Tropicana joint venture for A$903 million ($699 million), but completion of the deal was subject to AngloGold waiving its right to pre-empt the offer on the same price and terms.

($1 = 1.2918 Australian dollars)

(By Nqobile Dludla; Editing by Krishna Chandra Eluri)


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