AngloGold Ashanti : Barrick Agree to Sell 80% Morila Mine Stake to Mali Lithium

By Olivia Bugault

AngloGold Ashanti Ltd. said Monday that it has agreed with partner Barrick Gold Corp. to sell their 80% stake in Mali's Morila gold mine to Mali Lithium Ltd.

"The consideration payable for the purchase is estimated at between $22 million and $27 million," the South Africa-based gold miner said.

AngloGold expects its share of the net consideration for the purchase to be roughly $10 million or less, the company said.

The Morila gold mine halted operations in 2019; currently only ore stockpiles are being processed. Mali Lithium--which is based in Western Australia--aims to increase production at the mine as soon as possible, it said.

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