Australian Resolute Mining has signed definitive agreements for the sale of the Ravenswood Gold Mine in Queensland, Australia, to a consortium comprising a fund managed by private equity manager EMR Capital and leading energy and mining company Golden Energy and Resources
Sale proceeds of up to A$300 million in cash will be received by Resolute.
Resolute states that “the divestment provides strategic clarity and is consistent with Resolute’s ambition of being a low-cost multimine African-focused gold producer”. ¨
Resolute is a gold miner with more than 30 years of experience as an explorer, developer, and operator of gold mines in Australia and Africa which have produced more than 8Moz of gold.