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Kenya: KCA approves sale of Aviva Mining to African Barrick Gold

By  |  October 22, 2012

The Kenyan Competition Authority has announced approval for Aviva Corporation Ltd to sell its Aviva Mining Kenya Limited to African Barrick Gold, a plan first announced last July. The sale was established with an initial payment of A$20 million for AMK to Aviva, with a further payment of A$10 million under a binding sale and purchase agreement if 3 million ounces or more of a National Instrument 43-101 complaint indicated resource is reached within AMK’s project areas. The sale is expected to be complete within a week.

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