Friday, 13th August 2004 (2466 views)

South African firm AngloGold Ashanti has sold its Union Reefs gold mine in the Northern Territory.

The move is part of a joint venture with Harmony Gold Mining and Northern Gold.

The venture will be in charge of all future obligations linked with the assets, as well as remaining site works and reclamation.

In addition, with both firms having equal ownership the partnership will pay AUS $4 million for the assets which include a 2.8 million tonnes processing plant, single persons quarters and mining and exploration housing.

Mining at the site was completed in the third quarter of 2003.

 

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