Shareholders approve sale

Denver — Shareholders of Ashanti Goldfields (ASL-N) have approved the sale of half of the Geita mine to AngloGold (AU-N). The mine is in the Lake Victoria region of Tanzania.

Ashanti’s two principal shareholders, Britain’s Lonmin and the Ghanaian government, represent a total of 51.4% of the shares. Both parties support the deal.

Ashanti will receive US$205 million in cash and US$130 million in financial assistance. The funds will be used to reduce debt. Geita opened in August, and Ashanti and AngloGold are examining an expansion.