The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 13th October 2004 (3821 views)

Canadian mining firm Placer Dome has announced a new deal whereby it has purchased East African Gold Mines (EAGM) in Tanzania.<BR/><BR/>The firm was bought at a cost of $252.4 million and the deal was arranged through EAGM's subsidiary Afrika Mashariki Gold Mines.<BR/><BR/>Under the deal, Placer Dome will be able to mine at three open pit deposits, which are part of the North Mara gold mine, according to The Standard.<BR/><BR/>Managing director Tim Baker claimed the deal was particularly important since the firm was now the second largest mining interest in Africa.<BR/><BR/>Placer Dome has successful mining history in the US, Chile, Australia, Papua New Guinea and South Africa.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3605913"/>

 

« Back to Gold News stories