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Friday, 12th December 2008 (2229 views)

Agnes gold mine has been sold to Lloyd Burrell on behalf of an unnamed organisation.

The mine in Mpumalanga South Africa near Barberton has been in operation for more than a century and Consolidated Auctioneers has reported that it has now been sold for R16 million (£1.05 million).

According to the South African Business Report, the new owner plans to reopen the mine in March 2009 and will invest as much as R100 million in improving its infrastructure.

Consolidated Auctioneers sold the mine along with its buildings and equipment on behalf of African Pioneer Mining on December 9th.

Part of the Moodies Gold Camps, founded in 1883, the Agnes mine is one of the oldest in South Africa and is located at Mpumalanga near Kruger National Park.

Dating back to South Africa's gold rush, the 125-year-old mine has produced over ten million ounces of gold and has an estimated total resource of 1.75 million ounces.

 

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