Deal #5703

Land area

Size under contract (leased or purchased area)

[2007, current] 3900.0 ha

Comment on land area

The mine licence covers an area of 39 square kilometres. The company also has exploration permits covering more than 1,600 square kilometres.

Intention of investment

[2007, current] Mining (3900.0 ha)

Nature of the deal

Exploitation permit / license / concession (for mineral resources)

Negotiation status

[2007] Concluded (Contract signed)
[2017] Concluded (Change of ownership)
[2007, current] Concluded (Contract signed)

Comment on negotiation status

Change of ownership from Avocet Mining Plc in 2017 to new investor Balaji group. It is understood that the original mining license signed in 2007 is still in force. The current mine license extends to 2027.

Implementation status

[2009-12-20] In operation (production)
[2016-11] Startup phase (no production)
[2016-12, current] In operation (production)

Comment on implementation status

First gold production on 20 December 2009. Operations temporarily suspended in October and November 2016. The operations continue but company needs to finance debt to continue.

Contract farming

No