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Endeavour Mining closes sale of its non-core Ghana mine

Published by
Global Mining Review,


On 29 December 2017, Endeavour Mining Corporation completed the sale of its 90% interest in the non-core Nzema Mine in Ghana to one of Africa's largest mining and civil contractors, BCM International Ltd (BCM).

Endeavour received a payment of US$38.5 million upon closing the sale, corresponding to the first two payments less adjustments.

Additional deferred payments of up to US$25 million are expected to be received over the course of 2018 and 2019, based upon reaching certain agreed upon milestones related to mine free cash flow generation.

Read the article online at: https://www.globalminingreview.com/finance-business/05012018/endeavour-mining-corp-closes-sale-of-its-non-core-ghana-mine/

 

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African mining news