The world’s No.1 miner had decided to offload Cerro Colorado mine in May last year, as part of chief executive Andrew Mackenzie’s bid to focus on large assets in commodities such as iron ore, copper and oil.
Combined indicated and inferred resources for the satellite deposit, located 15 km northwest of its Essakane operation in Burkina Faso, amount to 376,000 gold ounces.
The Australian major has signed option and farm-in agreements for Cornerstone Capital Resources’ Miocene and Mirasol Mining's Gorbea properties, all of them in northern Chile.
The violations were the result of the South African miner failing to meet its regulatory obligations in relation to its undertaking to pay an exclusivity fee to the sellers of Vametco.
Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years