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

By  |  October 22, 2012
Kenya: KCA approves sale of Aviva Mining to African Barrick Gold

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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