Canadian miner Barrick Gold Corporation is selling its seven Western Kenya gold mining licences to Guernsey-incorporated Shanta Gold in a cash-and-stock transaction worth a total of $14.5 million (Sh1.4 billion).
Toronto-based Barrick holds licences for rights to mine gold over a 1,161 square kilometre area that straddles Kakamega, Kisumu, Siaya and Vihiga counties. The area has gold deposits estimated at 1.1 million ounces, with a current market value of Sh186 billion.
