K:CC - Kinross Gold to sell Chirano mine in Ghana in $225M deal

Kinross Gold (NYSE:KGC) said Monday it agreed to sell its 90% interest in the Chirano mine in Ghana to Asante Gold (OTC:ASGOF) for $225M in cash and shares. The Chirano operation, which produced more than 154K oz. of gold in 2021, is an open pit and underground project located immediately south of Asante's Bibiani gold mine. Chirano represented ~3% of Kinross' total mineral reserve estimates as of year-end 2021; the company will have no assets or interests in Ghana following the closing of the deal. Kinross Gold has dampened its medium-term growth outlook following recent divestments, Taylor Dart writes in an analysis published recently on Seeking Alpha.

For further details see:

Kinross Gold to sell Chirano mine in Ghana in $225M deal