September 28, 2018 / 5:10 PM / 18 days ago

Congo mines minister backs state miner over Barrick's Kibali takeover

DAKAR, Sept 28 (Reuters) - Barrick Gold Corp's acquisition of Randgold's stake in the Kibali gold mine requires approval by the Democratic Republic of Congo's government, Mines Minister Martin Kabwelulu said on Friday.

Kabwelulu's statement, which cited a provision of Congo's new mining code, backs the position taken earlier in the day by state miner Sokimo, which vowed to "assert its rights" regarding Barrick's takeover, without elaborating.

Randgold and AngloGold Ashanti each own 45 percent stakes in Kibali while Sokimo owns the remaining 10 percent.

Reporting By Aaron Ross; Editing by Emelia Sithole-Matarise

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below