Vancouver — South African-based rivals
AngloGold will buy a portion of Gold Fields’ Block 1C11 for 315 million rand. The 280,000-sq.-metre property, which occupies the western boundary of Driefontein, hosts 1.4 million tonnes of material grading 12.7 grams gold per tonne. It is accessible from the adjacent TauTona mine of AngloGold.
Driefontein would only have been able to mine this area in about 10 years from Driefontein’s No. 1 Tertiary Shaft System.
The sale has yet to be approved by the country’s competition commission.
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