International Gold Exploration (IGE) is to sell its 50% stake in the Kilimapesa Gold joint venture in Kenya, giving Goldplat full control of the mine.

The $2.7m sale is a part of IGE’s strategy to invest in long-term projects.

Kilimapesa will receive part of IGE’s special license 91 covered by the joint venture agreement, corresponding to about 5% of the surface area of the license.

The joint venture company was formed in 2007 to develop the Kilimapesa gold mine.