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AngloGold, Randgold up Moto stake

Nov 01 2009 08:58

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JOHANNESBURG - AngloGold Ashanti and Randgold Resources said on Saturday they had entered into an agreement with Congo's state owned OKIMO group to buy an additional 20% stake in Moto Goldmines for $113.6m.

Post transaction, AngloGold and Randgold will own 90% of Moto Gold Mines and the remainder will be held by OKIMO.

"This increases our participation in the Moto Gold project, which is an important part of our future growth plans," said AngloGold Ashanti CEO Mark Cutifani.

- Reuters

 
 
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