Gold Fields, AngloGold Ashanti Agree Key Terms Of Proposed JV In Ghana

(RTTNews) - Gold Fields (GFI) and AngloGold Ashanti (AGD.L, AU) have agreed the key terms of a proposed joint venture in Ghana between Gold Fields' Tarkwa and AngloGold Ashanti's Iduapriem mines. AngloGold Ashanti will contribute its 100% interest in Iduapriem to Gold Fields Ghana in return for a shareholding in that company.

Excluding the interest to be held by the Government of Ghana, Gold Fields will have an interest of 66.7%, or two-thirds, and AngloGold Ashanti will have an interest of 33.3%, or one-third, in the Joint Venture.

The Tarkwa Mine is held by Gold Fields Ghana, in which Gold Fields currently owns a 90% share and the Government of Ghana holds 10%. The Iduapriem Mine is 100% owned by AngloGold Ashanti.