Asanko Gold and Gold Fields Ltd. are forming a joint venture that will give each company a 50% stake in Asanko’s 90% interest in the Asanko gold mine (AGM) in Ghana. The government of Ghana will continue to hold a free-carried 10% interest in the operation.
The AGM is a multi-deposit mining complex, with two main deposits, Nkran and Esaase, and nine known satellite deposits. Asanko will remain the manager and operator. A joint-venture management committee, comprising representatives from Asanko and Gold Fields, will be formed to oversee operations, with material decisions, including budgets and capital expenditures, requiring unanimous approval. A technical subcommittee will be formed to provide technical advisory services to the management committee.
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