West Australian miner IGO, the original discoverer of AngloGold Ashanti’s Tropicana gold mine, has floated the option of selling out of its 30% JV interest to focus on commodities relevant to clean energy.
After receiving unsolicited approaches from a number of parties, IGO has launched a strategic review of its holding that will involve detailed technical analysis of opportunities to enhance value through underground development and exploration.
MD-CEO Peter Bradford says Tropicana is a high-quality and significant asset, but the value of its interest is not fully reflected in IGO’s share price. Options for the review will include full or partial sale or alternative transaction structures.