October 11, 2016 / 8:46 AM / a year ago

Morocco's Managem buys 40 stake in Guinea's Tri-K gold mines

RABAT, Oct 11 (Reuters) - Morocco’s biggest miner Managem has bought a 40 stake in Avocet Mining Plc’s Tri-K gold mines in Guinea for an undisclosed amount, a statement from the Moroccan company said on Tuesday.

Managem said it will raise its stake to 70 percent of the Tri-K project, located near Kankan in the northeast of the country, if confirmed reserves reach 30 tonnes in a second phase. The company will only raise it to 60 percent stake if confirmed deposits are less than 30 tonnes of gold. (Reporting by Aziz El Yaakoubi; editing by David Clarke)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below