https://newsletter.mw.creamermedia.com
Financial|Gold|PROJECT|Resources
Financial|Gold|PROJECT|Resources
financial|gold|project|resources

AngloGold gives approval for Tropicana sale

7th May 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

Gold miner AngloGold Ashanti has waived its pre-emptive rights over joint venture (JV) partner Independence Group’s (IGO’s) 30% interest in the Tropicana gold mine, clearing the way for ASX-listed Regis Resources to acquire the interest.

Regis and IGO last month struck a A$903-million agreement under which Regis will acquire IGO’s interest in the Western Australian gold project.

AngloGold Ashanti, which holds the remaining 70% interest in the JV project, said last month that, after careful consideration, the company had decided to waive its pre-emptive right over the remaining stake in Tropicana.

“Tropicana is a key asset in AngloGold Ashanti’s portfolio. Having decided, in this context and after considerable deliberation, to waive our pre-emptive rights, with the sale process behind us we are looking forward to working with Regis to deliver Tropicana’s considerable potential over the coming years,” said interim CEO Christine Ramon.

Regis MD and CEO Jim Beyer has welcomed AngloGold Ashanti’s decision, which was a key condition precedent for the transaction with IGO.

“We are very pleased this critical condition has been satisfied and look forward to working closely with our new JV partner, AngloGold Ashanti. While recognising the pending nature of the Minister’s approval for the tenement transfer, we look forward to completing this key strategic transaction.”

Significant Benefits

Beyer said that the acquisition would provide significant benefits to Regis, and when combined with its existing assets, would provide a larger-scale, longer-term financial and operating platform to pursue internal and external growth options.

The project is a top five Australian producing gold mine, having produced 463 000 oz in 2020, and is expected to deliver between 380 000 oz and 430 000 oz in 2021.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

Rio Tinto's QIT operation in Madagascar
Madagascar lifts 16-year ban on new mining permits, excludes gold
Updated 4 hours ago By: Reuters

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

FAM Minerals & Mining South Africa team
FAM Minerals & Mining launches in South Africa
30th January 2026 By: Darren Parker
Transnet, RBCT, Exxaro manganese make headlines
Transnet, RBCT, Exxaro manganese make headlines
30th January 2026
Magazine cover image
Magazine round up | 30 January 2026
30th January 2026
Exxaro CEO Ben Magara.
Exxaro’s manganese entry points advance
29th January 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.21 0.296s - 127pq - 2rq
Subscribe Now