Gold Fields has received approval from its stakeholders to acquire Iamgold‘s 18.9% stake in the Tarkwa and Damang gold mines in Ghana for $667m.

The acquisition, first announced on 15 April 2011, is expected to be completed this week.

Gold Fields will now own a 90% stake in the Tarkwa and Damang gold mines, from the previous 71.1%, while the Government of Ghana will own the remaining 10% stake.

On completion of this transaction, Gold Fields will acquire additional reserve ounces and $20m in capital.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData